Gulshan Group, Ourika Estates form JV for ₹750 crore UP expansion

Real estate developers Gulshan Group and Ourika Estates have announced a joint venture to invest ₹750 crore in residential projects across Uttar Pradesh. The partnership marks a significant expansion initiative in the state's property sector, capitalizing on growing housing demand in key metropolitan regions.

The JV has secured strategic land parcels in Ghaziabad and Lucknow, two major commercial and residential hubs in north India. The combined development will comprise approximately 1.5 million square feet of built-up area, targeting the premium residential segment in both locations.

Ghaziabad and Lucknow have emerged as attractive destinations for residential investment, driven by infrastructure development, improved connectivity, and rising urbanization. The Ghaziabad property market has benefited from its proximity to the National Capital Region, while Lucknow continues to see increased residential demand as the state capital.

The joint venture positions both developers to leverage their respective expertise in project execution and market knowledge. The partnership underscores continued investor confidence in Uttar Pradesh's real estate sector despite broader market challenges across the country.

Details regarding project timelines, unit configurations, and pricing structures are expected to be announced in the coming weeks.