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Gulshan Group has announced an investment of INR 1,000 crore to develop a Taj-branded luxury hotel and residential project in Sector 129 along the Noida Expressway. The development, to be managed by the Indian Hotels Company (IHCL), will comprise a 150-key hotel, 74 serviced apartments, and a penthouse. The project, currently under construction, is expected to be completed within five years. While the hotel and penthouse will be retained by the developer, the residential component is projected to generate over INR 2,000 crore in revenue. Positioned as the tallest Taj hotel and the first in Noida, the project reflects growing demand for branded residences and luxury hospitality assets in the National Capital Region.
Gulshan Group has announced plans to invest approximately INR 1,000 crore to develop a Taj-branded luxury hotel and residential project in Sector 129 along the Noida Expressway, marking its entry into the branded hospitality-linked residential segment in the National Capital Region. Advertisement
The project is being developed in partnership with the Indian Hotels Company Ltd (IHCL), which will manage the hospitality component. The development will comprise a 150-key luxury hotel, 74 serviced residential apartments, and a penthouse, forming a mixed-use asset combining hospitality and high-end residential offerings.
Construction work on the greenfield project has commenced, and the developer has indicated a timeline of approximately five years for completion. The project is being positioned as a high-rise development and is expected to be the tallest Taj-branded hotel, as well as the first such property in Noida.
According to the developer, the residential component will consist of large-format serviced apartments, each with a built-up area of around 7,500 sq ft, catering to demand from high-net-worth individuals seeking branded residences with hotel-managed services. The company stated that revenue from the sale of these residences is expected to exceed INR 2,000 crore.
The developer has indicated that the hotel and penthouse components will not be offered for sale and will be retained as part of its long-term asset portfolio. This structure reflects a hybrid development model, where recurring income from hospitality operations is combined with upfront revenue from residential sales.
Industry participants have noted that demand for branded residences has been increasing in urban centres, driven by rising affluence levels and preference for managed living environments that combine residential ownership with hospitality services. The association with established hospitality brands is also seen as enhancing asset value and attracting premium buyers.
The project marks IHCL's continued expansion in the branded residences segment, which complements its hospitality portfolio. The company, part of the Tata Group, has a global portfolio of over 600 hotels, including operational and pipeline assets across multiple geographies.
Gulshan Group, which has developed more than 10 residential and commercial projects across Delhi-NCR, is expanding its presence in the luxury segment through this development. The company indicated that Noida has been witnessing increasing demand for premium housing and hospitality assets, supported by infrastructure development and connectivity along the Noida Expressway.
The development is expected to contribute to the evolving skyline of the Noida Expressway corridor, where a mix of residential, commercial, and mixed-use projects are being developed. With limited supply of branded luxury residences in the region, the project reflects a shift towards integrated developments combining real estate and hospitality components.
Source - PTI
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