Interfacial transfer terms in gas-liquid two-phase flows are formulated as the product of interfacial area concentration (IAC) and flux. The interfacial area transport equation (IATE) is essential for obtaining IAC in transient and developing two-phase flows. Two-group IATE was developed to account for the difference in the interfacial drag force between two groups of bubbles, where spherical and distorted bubbles are categorized as group one, while cap, slug, and churn turbulent bubbles are categorized as group two. The rigorous two-group approach requires two-group gas momentum equations, resulting in one additional momentum equation in the two-fluid model. The mixture gas momentum equation is considered to avoid the additional momentum equation. The two-group drift-flux model is necessary to calculate the two-group gas velocity from the mixture velocity. The present study develops an approximation methodology to acquire subchannel average and rod bundle average two-group two-phase flow parameters based on the validated power law assumption and a limited number of local data. The two-group model is developed for the distribution parameter and drift velocity for dispersed two-phase flows in rod bundles. The total performance of the newly developed two-group drift-flux model is evaluated by two-phase flow data in rod bundles. The results show that the developed two-group drift-flux model could well predict two-group gas velocities in rod bundles. This model is useful for subchannel thermal hydraulic analysis codes as a complement to the conventional one-group drift-flux model.