Realty firm Gaurs Group is set to invest around 4,000 crore in a new commercial project in Noida. The company aims to build rental assets, and the project will cover 17 acres. According to the company's Chairman and Managing Director, Manoj Gaur, the development will feature 5 million square feet (around 50 lakh sq ft) of commercial space.

The project on the Noida Expressway will include:

       •  2.5 million sq ft for retail spaces.
       •  2 million sq ft for office spaces.
       •  A hotel with over 300 rooms.

Gaurs Group plans to lease out these spaces to boost its rental income, which exceeds 125 crore per year. The company expects to start construction before March 2024.Manoj Gaur shared that the total investment for this project would be around 4,000 crore.

The funding will come from internal savings and bank loans. The company has strong sales, with over 4,000 crore receivables, expected to reach 5,000 crore by the end of this financial year. Gaurs Group is optimistic about the housing market in the NCR region. Their latest luxury housing project in Ghaziabad, worth 3,100 crore, sold out in just three days, reflecting strong demand.

The company also plans to launch an initial public offering (IPO) within 18 months to expand its business further. It is restructuring its operations before approaching the market regulator, SEBI, for the IPO.

Gaurs Group aims to grow its housing business while building steady rental income from commercial assets like malls, hotels, offices, schools, and convention centres. Manoj Gaur, the chairman of Credai (the realtors' apex body), said the company wants to add more land parcels to its extensive land bank for future real estate projects.

With over 30 years of experience, Gaurs Group (formerly Gaursons India Ltd) has developed more than 65 million sq ft of real estate and delivered 65,000 units.

The group has also expanded into shopping malls, schools, hotels, solar energy, and construction. They have successfully developed three townships, including the notable Gaur City in Noida Extension, home to nearly 30,000 families.