NEW DELHI: NCR-based real estate developer County Group has taken over two stalled housing projects in Gurgaon, providing relief to approximately 400 homebuyers who have faced delays of over ten years.
This acquisition will provide the developer with roughly 2.6 million square feet of saleable space, projecting potential revenues of Rs 4,000 crore.
The group secured Ashiana Landcraft through the National Company Law Tribunal (NCLT). This project involves a 14-acre residential development along the Dwarka Expressway in Gurgaon.
“Around seven acres of this project were partially developed, leaving 326 homebuyers stranded since 2014. We revamped the existing buildings and common areas after taking ownership,” stated Amit Modi, director of County Group.
The developer invested Rs 75 crore to acquire the project from lenders.
County Group also took over a 10-acre partially developed project initiated by the Ansal Group.
“In this instance, we settled the outstanding cases and dismantled three towers to re-establish it as a greenfield project. Subsequently, we merged both projects, resulting in nearly 17 acres of land for large-scale development,” Modi added.
In this venture, the company provided an exit to 42 buyers, remitted Rs 110 crore to lenders, and paid Rs 50 crore to local authorities.
“Additionally, we plan to invest another Rs 1,300 crore to further develop the project,” Modi mentioned.
County Group recently acquired a five-acre land parcel in Sector 151, Noida, for approximately Rs 473 crore, followed by the purchase of 13.3 acres in Wave City, Ghaziabad, for about Rs 400 crore.
The company aims to develop a low-density project consisting of 226 residential units across three configurations, covering over 1.1 million square feet.
In 2024, County Group successfully delivered over 4 million square feet across three housing projects, navigating pandemic-related challenges.
These include Coco County in Sector 10, Greater Noida (West); Ivy County in Sector 75, Noida; and County 107, an ultra-luxury development in Sector 107, Noida.
In 2025, the developer introduced Ivory County in Sector 115, Noida, and Jade County on NH24 in Ghaziabad.
Jade County achieved Rs 1,600 crore in pre-sales from its first phase, which spans 1.5 million square feet and features five towers ranging from 27 to 31 stories.
With a planned saleable area of 3 million square feet, this project will require an investment of Rs 1,800 crore and is expected to be delivered in phases starting in 2030.
