Gulshan Group has announced a significant premium residential project with an investment of ₹1,000 crore at Wave City, Ghaziabad. According to reports from The Economic Times, the project, named Gulshan Empire, will offer 500 premium residences across 5.5 acres, with an estimated sales realisation of over ₹1,200 crore. The Delhi-NCR-based developer stated that the project would be developed in a single phase, with the stated Real Estate Regulatory Authority (Rera) timeline set for 2031. As per The Economic Times, Gulshan Group Director Deepak Kapoor revealed that the company purchased the land parcel from Wave Group for around ₹175 crore and will meet the remaining investment through internal accruals and loans from financial institutions.
In the first phase of sales, Gulshan Group has offered approximately 900,000 square feet to buyers in three- and four-bedroom residences with helper rooms. As reported by The Economic Times, homes are priced starting at ₹2.2 crore for three-bedroom residences and ₹3 crore for four-bedroom residences with helper rooms. The per square foot selling price is set at ₹10,500. Kapoor noted that the demand continues to be strong in Noida, Greater Noida, and Ghaziabad markets from both end users and investors, amid lack of good quality supply. The project is expected to be completed within four years, with sales proceeds contributing to the overall funding strategy.
The project has received encouraging response since its launch, with 40% of units already sold according to recent reports. According to The Economic Times, Gulshan Group has traditionally focused on luxury developments but positioned Gulshan Empire as a premium residential offering at a more accessible price point, developed primarily for end users. Deepak Kapoor, director of Gulshan Group, emphasized that the residential market continued to see demand from homebuyers who valued quality, planning and long-term value, with the ₹1,000 crore investment reflecting confidence in "Wave City as an emerging residential destination supported by improving infrastructure and sustained end-user demand."
Deepak Kapoor, director of Gulshan Group, emphasized the strong demand from discerning homebuyers who value quality and long-term value creation. According to The Economic Times, Kapoor stated that the ₹1,000 crore investment underscores the company's long-term confidence in Wave City as an emerging residential destination. Yukti Nagpal, director of Gulshan Group, highlighted that today's homebuyers make informed decisions with equal emphasis on quality, design, location and overall living experience, positioning Gulshan Empire as a premium residential community combining low-density planning, expansive green spaces, private garden residences and contemporary lifestyle amenities. In the last three decades, Gulshan Group has delivered over 10 million sq ft of residential and commercial developments across Delhi-NCR.
