Gulshan Group has partnered with Ourika Estates to develop two premium residential projects in Ghaziabad and Lucknow, marking the groups’ expansion into key North Indian real estate markets.
Ourika Estates acquired an 8,750 sq. mtr. land parcel in Madhuban Bapudham, Ghaziabad, from the Ghaziabad Development Authority (GDA) through an auction for ₹75 crore. The second parcel spans approximately 10,328 sq. mtr. in Gomti Nagar Extension, Lucknow, and was acquired from the Lucknow Development Authority (LDA) through an auction for ₹120 crore.
“As North India’s growth corridors evolve, we see a significant opportunity to take this philosophy into new markets,” said Gulshan Nagpal, Promoter, Gulshan Group.
Together, the two projects will create approximately 1.50 million sq. ft. of premium residential space. Through the partnership, Gulshan Group and Ourika Estates aim to bring high-quality residential developments to strategically located urban markets.
“With these two strategically located developments in Ghaziabad and Lucknow, we are extending the Gulshan philosophy of quality, design, and elevated living into new markets,” said Deepak Kapoor, Promoter Gulshan Group.
Furthermore, the development platform plans to invest more than ₹750 crore across the two projects over their development lifecycle. The investment will support the development of premium residential communities across the two locations.
“We are targeting high-potential locations to build world-class apartments that set a new paradigm for premium urban living,” said Prasoon Chauhan, Director, Ourika Estates.
Meanwhile, Ghaziabad and Lucknow will serve as the first phase of the partnership’s North India expansion. Going forward, the platform plans to evaluate additional strategic opportunities across the region, particularly in markets where improving infrastructure and changing consumer preferences are driving demand for premium housing.
