Gulshan partners with Jaiprakash Associates to complete 418 flats in two stuck projects

Gulshan Group announced that it has tied up with Jaiprakash Associates to complete 418 luxury apartments in Noida.

The two developers will jointly construct 113 apartments in ‘Boomerang Residencies’ and 305 flats in ‘Kristal Court’ project in Sector 128, Noida. The construction cost of the projects would be Rs 475 crore and gross sales realisation Rs 1,200 crore, said a press release.

It said the overall saleable area is 15 lakh square feet and the investment for project development is from internal accruals and financial partners. The overall construction and delivery of these apartments is expected to be completed in the next 42 months, added the release.

“We are excited to get these projects, which will help us get the stuck homes delivered to the buyers. It is our way to help the stuck project see the light of the day. Gulshan Group always standby the customer centricity,” said Deepak Kapoor, Director, Gulshan Group.

Talking about the development, Yukti Nagpal, Director, Gulshan Group, said: “The country is going through a challenging time and non-delivery of the project adds to the buyers’ worry. We have entered this tie-up to help these buyers get the home of their dreams.”