AURUS targets GIFT City with 480-unit managed-residences project
AURUS Luxury Managed Residences has signed an MoU with Siban Developers and United Group to operate a proposed 480-unit project in GIFT City. The planned 15-year lease spans about 500,000 sq ft and carries potential rental value of roughly ₹550 crore, with operations targeted for 2030.
What happened
AURUS Luxury Managed Residences · AURUS signed an MoU with United Group/Siban Developers to operate a 480-unit managed-living project in GIFT City. The proposed
Key facts
- ~500,000 sq ft leasable area
- 480 units
- proposed 15-year lease
- ~₹550 crore potential rental over 15 years
- operations targeted for 2030
What changed
AURUS signed an MoU with United Group/Siban Developers to operate a 480-unit managed-living project in GIFT City. The proposed 15-year lease covers about 500,000 sq ft and could generate roughly ₹550 crore in rental value.
Why this matters
AURUS’s proposed 480-unit GIFT City launch would add significant scale to its managed-living platform, requiring strong pre-opening, staffing and service-delivery capabilities ahead of the targeted 2030 opening.
What to watch
- Execution of definitive agreements and disclosure of AURUS's fee structure, minimum guarantees, capex obligations and revenue-share terms.
- Construction start, financing closure, regulatory approvals and announced completion milestones for the 500,000-sq-ft development.
- GIFT City office leasing, new employer commitments, residential absorption and international/expatriate workforce growth.
- Competing serviced-apartment, co-living, hotel and branded-residence supply entering GIFT City before 2030.
- AURUS announcements on additional assets, bed additions, corporate partnerships or funding needed to support its 25,000-bed ambition.