AURUS – Luxury Managed Residences Partners with SIBAN for One of India’s Largest Managed Living Projects

AURUS Luxury Managed Residences, a premium co-living brand founded by Bharat Agarwal, has signed a Memorandum of Understanding (MoU) with United Group to establish and operate a large-scale managed residential living development in GIFT City, Gandhinagar, in what is set to be one of India’s largest leasing partnerships in the managed residential space.

The partnership will see AURUS bring its expertise in co- living, hospitality, community management and operations to the development, while Siban Developers will serve as the development and property partner. Together, the collaboration aims to create a professionally managed living ecosystem suited to GIFT City’s evolving educational, corporate and professional landscape.

The commercial and lease structure encompasses a total leasable area of approximately 5,00,000 Plus sq. ft. spread across 480 units, under a proposed 15-year lease term based on the current commercial schedule, the potential rental payable over the 15-year period is approximately Rs.550 crore, subject to the final executed agreements

Under the partnership, United Group will serve as the development and property partner, while AURUS will operate and manage the accommodation ecosystem. Its responsibilities will include resident experience, hospitality, community management, programming and day-to-day property operations.

The project is expected to serve a mix of students, young professionals and working executives, in line with GIFT City’s evolving educational, corporate and professional ecosystem. The current project plan targets operations to commence in 2030.

On the partnership, Bharat Agarwal, Founder, AURUS Luxury Managed Residences, said, “Our journey so far has demonstrated that there is a significant opportunity to build a more organised and professionally operated managed residential ecosystem in India. As we enter our next phase of growth, GIFT City stood out because of the scale of development underway and the opportunity to become part of a new ecosystem from an early stage. Partnering with Siban Developers gives us the opportunity to enter the market with the right development partner and establish a strong foundation for our expansion beyond Mumbai.”

Located in Gandhinagar, GIFT City has emerged as India’s first International Financial Services Centre and a growing hub for global financial and technology businesses. The city currently has over 1,000 operational entities, has generated more than 30,000 jobs, and has over 29 million sq. ft. of space allotted for development. Alongside its expanding corporate ecosystem, GIFT City is also emerging as an international education destination, with global universities establishing campuses within the city. Deakin University and the University of Wollongong from Australia are already operational, offering programmes across areas including business, financial technology, computing and data analytics, while Coventry University and Queen’s University Belfast from the UK have also been approved to establish campuses and financial institutions like Bank of America, Barclays, Deutsche Bank to name a few.

As GIFT City’s business and academic ecosystems continue to expand, the demand for organised, professionally managed and high-quality living infrastructure is expected to grow alongside its student and young professional population.

Commenting on the partnership, Sanket Patel, Partner, United Yogi LLP, said, “The development of a successful urban ecosystem requires different forms of infrastructure to evolve alongside one another. While GIFT City has established itself as an important business destination, its next phase of growth will also depend on how effectively it supports the people who will live, study and work here. We see this partnership with AURUS as an opportunity to contribute to that evolution by introducing an organised managed-living solution that responds to an important requirement within the city’s broader development landscape.”

The partnership places AURUS within one of India’s most closely watched urban development projects and represents a significant addition to its growth strategy. The company’s long-term ambition is to build the next 100 most beautiful and functional managed residential assets across India over the next five years, contributing to the transition of student and working professional accommodation from fragmented hostel and PG formats towards a more globally benchmarked living category.

The GIFT City entry marks the first step in that wider expansion journey, as AURUS looks to take its managed residential model to new markets across the country.

Gaurs Group Acquires 35 Acres Along Yamuna Expressway for Rs.700 Crore

Gaurs Group has acquired three land parcels measuring around 35 acres in Sector 18 along the Yamuna Expressway for approximately Rs.700 crore. The Delhi-NCR developer purchased the land from ICICI Bank through an open auction, with the acquisition forming part of its plans to expand its residential project pipeline in the Noida-Yamuna Expressway region.

The acquisition includes a 24-acre parcel, which is the largest of the three plots. Gaurs Group plans to develop a housing project on this land, adding to its presence in a corridor that connects Noida and Greater Noida with Agra. The deal comes as developers continue to look for large development opportunities in the Yamuna Expressway region, where infrastructure and real estate activity have been increasing.

Gaurs Group Chairman Manoj Gaur confirmed the acquisition, stating that the company purchased the 35 acres from ICICI Bank for around Rs.700 crore. The company said the land was acquired on an “as-is, where-is” basis through an open auction. It also plans to clear outstanding obligations associated with the land, including external development charges (EDC) and farmer compensation.

The company intends to launch a residential development on the 24-acre parcel. Manoj Gaur has also indicated that Gaurs Group expects to introduce three to four housing projects in Noida and along the Yamuna Expressway by March 2027.

The developer has already launched a housing project on the Yamuna Expressway during the current financial year, with an estimated revenue potential of around Rs.1,900 crore. The latest land acquisition is expected to provide additional capacity for future launches.

Gaurs Group said it continues to see healthy demand across Noida, Greater Noida and Ghaziabad, particularly for projects offered by established developers. The company believes limited fresh supply from reputed builders is supporting demand in these markets.

The group recorded approximately Rs.5,500 crore in sales bookings during the previous financial year and expects its launch pipeline in FY 2026-27 to help match or exceed that performance.

Beyond residential real estate, Gaurs Group is also looking to expand its commercial and rental portfolio. The developer plans to launch a large commercial project in Noida and currently generates roughly Rs.150 crore in annual rental income from its commercial assets, including shopping malls.

The immediate focus will be on planning and launching the residential project on the 24-acre parcel, while the remaining acquired land parcels could support future development plans. The company is also expected to continue adding residential and commercial projects across key Delhi-NCR growth corridors.

With nearly three decades of operations, Gaurs Group, through Gaursons India Pvt Ltd, has developed more than 100 million sq ft and delivered over 75,000 homes across 75 projects, including three integrated townships. Its business interests also extend to retail, education, sports and solar energy.