Gulshan Group has announced a ₹10 billion investment in a new residential development at Wave City in Ghaziabad, targeting more than ₹12 billion in revenue. The project forms part of the developer's broader expansion strategy, supported by debt financing, internal funds and customer collections.
Gulshan Group has unveiled plans to invest approximately ₹10 billion in a new residential development named Gulshan Empire at Phase-I, Sector-1 of Wave City in Ghaziabad, strengthening its presence in the National Capital Region's housing market. According to company disclosures, the single-phase project will span around 5.5 acres and deliver about 500 apartments across six residential towers, each rising 31 storeys. Construction is scheduled to be completed in line with the Real Estate Regulatory Authority (RERA) timeline ending in 2031.
The developer expects the project to generate sales exceeding ₹1.2 billion. Around 900,000 square feet has already been introduced in the first sales phase, with nearly 200 apartments sold, representing roughly 40% of the available inventory. Launch pricing has been set at approximately ₹10,500 per square foot, following an earlier pre-launch offering at about ₹9,500 per square foot. The development includes three-bedroom and four-bedroom apartments with helper rooms.
The land for the project was acquired in 2025 for around ₹175 million, while financing will be supported through a ₹125 million construction loan from Tata alongside internal accruals and customer advances. DFA Architects has been appointed as the project designer.
The investment reflects continued confidence in residential demand across the NCR, where infrastructure upgrades and urban expansion are supporting new housing launches. Large-scale developments in emerging townships are attracting both end-users and investors seeking premium residential options, encouraging developers to expand land banks and accelerate project pipelines.
Gulshan Group is a real estate developer focused primarily on residential and mixed-use projects in the Delhi-NCR region. The company said it is also preparing additional developments, including a project on the Yamuna Expressway and another planned through a joint development arrangement in Noida, indicating an ongoing strategy to expand its footprint in high-growth residential corridors.
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