Gulshan Group, Ourika Estates to Invest ₹750 Crore in UP Housing Projects

Gulshan Group and Ourika Estates are set to invest more than ₹750 crore in two premium residential projects in Uttar Pradesh, together spanning nearly 1.5 million sq ft of development.

The partnership has secured land parcels in Madhuban Bapudham, Ghaziabad, and Gomti Nagar Extension, Lucknow, as part of its expansion into the state’s residential market.

The Ghaziabad project will be developed on approximately 8,750 sq m of land acquired from the Ghaziabad Development Authority (GDA) through an auction for around ₹75 crore.

The second development covers roughly 10,328 sq m in Gomti Nagar Extension. The land was acquired from the Lucknow Development Authority (LDA) for about ₹120 crore.

Together, the projects are expected to comprise around 621 residential units. The Ghaziabad development is planned for approximately 346 homes, while the Lucknow project is expected to have around 275 units.

The combined gross development value is estimated at nearly ₹900 crore.

The Lucknow development is located near key connectivity and employment hubs, including Shaheed Path, IT City and Lucknow International Airport. The Ghaziabad project forms part of the planned Madhuban Bapudham development area.

Construction in Ghaziabad is expected to begin by the end of 2026, subject to regulatory approvals, while work on the Lucknow project is expected to start in early 2027.

The developments represent the first phase of the partnership’s Uttar Pradesh expansion. The companies are also assessing further residential opportunities across North India as they look to grow their development portfolio.