NEW DELHI: The Gulshan Group is set to invest approximately ₹1,000 crore in the development of Gulshan Empire, a residential project located in Phase-I, Sector-1 of Wave City.
The project is projected to yield sales exceeding ₹1,200 crore. Spanning 5.5 acres (22,505 sq metres), this single-phase development will feature 500 residential units distributed across six towers, each comprising 31 stories.
The land was acquired last year for around ₹175 crore, as stated by Deepak Kapoor, a director of the company.
Designed by DFI Architects, the project’s completion aligns with the RERA timeline slated for 2031. The company has already launched around nine lakh sq ft in the initial sales phase, having sold approximately 200 apartments—accounting for about 40% of the total inventory.
Homes are being offered at a launch price of roughly ₹10,500 per sq ft (super built-up), following a pre-launch rate of about ₹9,500 per sq ft.
The project will feature 3 BHK residences with a helper room starting at ₹2.20 crore, and 4 BHK residences with a helper room from ₹3 crore.
The 3 BHK units will provide around 1,142 sq ft of carpet area and 2,075 sq ft of super built-up area, while the 4 BHK units will include approximately 1,583 sq ft of carpet area and 2,750 sq ft of super built-up area.
The company has also secured a construction loan of ₹125 crore from Tata for this project, which will be further funded through internal accruals and customer sales proceeds. Additionally, the company plans to launch two more projects as part of its future expansion strategy. One project is set for Yamuna Expressway in Sector 22-D, where 3.5 acres have been acquired for ₹60-75 crore, while another is underway for 3.5 acres in Sector 150, Noida, acquired for about ₹50 crore.
