New Delhi, February 16 AU Real Estate announced on Monday that it will invest ₹1,500 crore to develop a housing project in Ghaziabad, Uttar Pradesh, as part of its expansion plan.
In a statement, the company said it has launched a 9-acre luxury housing project, 'The Sunflower', comprising 595 apartments.
The total investment to develop this project is estimated to be around ₹1,500 crore, and the estimated revenue is pegged at ₹2,000 crore, AU Real Estate said.
In the first phase, the company has launched 428 homes for sale. Prices start from ₹3 crore onwards.
AU Real Estate, founded by Ashish Agarwal, has developed several housing and commercial projects in the Delhi-NCR property market.