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• Karyan Group has announced plans to invest around INR 900 crore in its first residential development, a luxury housing project named Trevana Residences in Ghaziabad, Uttar Pradesh.
• The project, located along NH-24, will comprise 608 apartments and penthouses with a total saleable area of 16 lakh sq ft.
• Homes in the development will be priced between INR 2 crore and INR 6 crore, with the company targeting estimated revenue of nearly INR 1,500 crore.
• The project is scheduled for completion by 2030, with funding expected through internal accruals and potential bank borrowings for construction requirements.
• The announcement comes amid continued growth in Delhi-NCR’s housing market, where residential sales and new supply both recorded annual increases during the January–March quarter this year.
Karyan Group has announced plans to invest around INR 900 crore to develop a luxury residential project in Ghaziabad, Uttar Pradesh, marking the company’s entry into the housing segment. The project, named Trevana Residences, will be developed along NH-24 and is expected to be completed by 2030. The company said the investment will support the construction of 608 premium residential units across a saleable area of nearly 16 lakh sq ft. Advertisement
Speaking to reporters in the past week, Karyan Group Director Varun Garg said the development would be the company’s first housing project under the group’s portfolio. He stated that the company expects to generate nearly INR 1,500 crore in revenue from the project upon completion and sales.
According to the company, the development will include luxury homes and penthouses priced between INR 2 crore and INR 6 crore. The project has been positioned within the premium residential category in Ghaziabad, where developers have increasingly expanded high-value housing supply amid improving connectivity and demand from Delhi-NCR buyers.
Garg indicated that housing demand in Ghaziabad has remained strong, particularly for larger and premium residences, and the company expects favourable customer response for the project. He also said the company intends to finance construction primarily through internal accruals, while bank funding may be explored if additional capital is required during later stages of development.
Apart from its residential expansion, Karyan Group has already established a presence in the commercial real estate segment in Ghaziabad. The company has completed one commercial project spanning around one lakh sq ft area and currently has two additional commercial developments under construction, covering a combined area of approximately six lakh sq ft.
The project announcement coincides with continued activity in the Delhi-NCR residential market. According to data released by housing brokerage firm PropTiger, housing sales across Delhi-NCR increased 11 per cent year-on-year to 9,447 units during the January–March quarter this year, compared with 8,477 units recorded during the corresponding period last year.
The consultancy’s data also showed that new housing supply in the region rose 29 per cent during the same period, reaching 10,230 units against 7,952 units in the year-ago quarter. Developers across NCR markets, including Ghaziabad, Noida and Gurugram, have continued to launch premium and luxury residential projects in response to sustained demand from end-users and investors.
Source - PTI
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