MUMBAI: In a move poised to reshape urban residential infrastructure, co-living brand AURUS Luxury Managed Residences has signed a Memorandum of Understanding (MoU) with United Group to establish a large-scale managed living development in GIFT City, Gandhinagar.
Slated to commence operations by 2030, the project encompasses a leasable area of approximately 500,000 square feet spread across 480 units. Under a proposed 15-year lease term, the potential rental payable over the duration is estimated at Rs 550 crore, subject to final executed agreements.
The initiative addresses the rising demand for organized housing driven by GIFT City’s expanding footprint. Currently hosting over 1,000 operational entities and generating more than 30,000 jobs, the financial district is also emerging as an international educational hub with campuses from global institutions like Deakin University, University of Wollongong, Coventry University, and Queen’s University Belfast.
Leadership Perspectives
Reflecting on the milestone, Bharat Agarwal, Founder of AURUS Luxury Managed Residences, stated:
“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.”
Echoing the sentiment, Sanket Patel, Partner at United Yogi LLP, added:
“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.”
Project Structure and Future Outlook
Under the commercial structure, United Group will operate as the development and property partner through Siban Developers, while AURUS will manage the overall accommodation ecosystem. Responsibilities will cover resident experience, hospitality, community programming, and daily property operations tailored to students, young executives, and working professionals.
The venture serves as a cornerstone for AURUS’s broader expansion strategy. The company aims to build the next 100 managed residential assets across India over the next five years, shifting student and professional housing away from fragmented traditional formats toward globally benchmarked standards.
