GULSHAN OURIKA GHAZIABAD — New Project Coming Up in Madhuban Bapudham, Ghaziabad

Joint Venture Launches Ghaziabad Project

Noida-based developer Gulshan Group has entered into a joint venture (JV) with Ourika Estates to invest over ₹750 crore to develop two residential projects in Ghaziabad and Lucknow. The Ghaziabad component, Gulshan Ourika Ghaziabad, represents the first phase of this partnership into North India's emerging growth corridors.

Project Specifications

The Ghaziabad parcel will hold one project with around 346 units. Spanning 2.16 acres, the land was acquired from the Ghaziabad Development Authority (GDA) through an auction for ₹75 crore. The land is located in Madhuban Bapudham, an area being developed as part of the city's planned expansion.

GDA has approved ₹24.23 crore for infrastructure works in Madhuban Bapudham's B Pocket, including roads, sewer lines, drainage, and water supply.

Development Timeline and Status

An application to the Ghaziabad Real Estate Regulatory Authority (Rera) has been submitted for the first project, with construction expected to start by the end of this year.

About the Developers

Gulshan Group, founded in 1989 by Gulshan Nagpal, operates as a developer of luxury real estate properties. The group has delivered over 11.35 lakh sq. m. of space and continues to expand with new luxury residential and commercial projects across Noida and surrounding regions.

Ourika Estates has a presence across several urban centres in Uttar Pradesh, including Bareilly, Ayodhya, Ghaziabad and Lucknow.

The Larger Partnership

Through their joint venture, Gulshan Group and Ourika Estates will invest more than ₹750 crore in two residential projects in Ghaziabad and Lucknow, with the developments expected to create approximately 1.5 million square feet of built-up area across 621 homes. The combined gross development value (GDV) for both projects is expected to be around ₹900 crore.