New Delhi, Feb 4 (PTI) – Dubai-based real estate giant Emaar India's latest luxury housing project, Urban Ascent, is projected to generate an estimated revenue of ₹3,400 crore. The high-end residential project, launched in Sector 112, Gurugram, spans 9.2 acres and will comprise 816 premium apartments.
According to Emaar India CEO Kalyan Chakrabarti, the project is being developed under a joint development agreement (JDA) with landowners, requiring a total investment of around ₹1,600 crore. The apartments are priced between ₹2.5 crore and ₹6 crore, with completion expected in the next four to five years.
Chakrabarti emphasized the robust demand for housing in Delhi-NCR, fueled by both end-users and investors. Industry experts attribute this surge to infrastructural advancements like the completion of the Dwarka Expressway, which has significantly increased interest in premium housing developments in Gurugram.
V S Realtors founder Vijay Harsh Jha noted that the Urban Ascent project received an overwhelming number of expressions of interest (EOIs), surpassing the total units available.
This marks Emaar India’s second major luxury project in Gurugram within recent months. In November 2023, the company launched Amaris in Sector 62 on Golf Course Extension Road, involving an investment of ₹1,000 crore (excluding land costs). The 6.2-acre project will house 522 apartments, covering a development area of 15 lakh square feet.
The Gurugram real estate market has witnessed remarkable growth, with residential property sales doubling to 4,864 units in Q4 2024 from 1,995 units in the same period the previous year, according to PropTiger data.
Emaar India continues to expand its footprint across key cities, including Delhi-NCR, Mohali, Lucknow, Indore, and Jaipur. The company entered the Indian real estate sector in 2005 through a joint venture with MGF Development, investing ₹8,500 crore. However, in April 2016, Emaar Properties separated from the partnership through a demerger.
With its latest projects, Emaar India reaffirms its commitment to delivering premium residential spaces in India's booming luxury real estate sector.
According to Emaar India CEO Kalyan Chakrabarti, the project is being developed under a joint development agreement (JDA) with landowners, requiring a total investment of around ₹1,600 crore. The apartments are priced between ₹2.5 crore and ₹6 crore, with completion expected in the next four to five years.
Chakrabarti emphasized the robust demand for housing in Delhi-NCR, fueled by both end-users and investors. Industry experts attribute this surge to infrastructural advancements like the completion of the Dwarka Expressway, which has significantly increased interest in premium housing developments in Gurugram.
V S Realtors founder Vijay Harsh Jha noted that the Urban Ascent project received an overwhelming number of expressions of interest (EOIs), surpassing the total units available.
This marks Emaar India’s second major luxury project in Gurugram within recent months. In November 2023, the company launched Amaris in Sector 62 on Golf Course Extension Road, involving an investment of ₹1,000 crore (excluding land costs). The 6.2-acre project will house 522 apartments, covering a development area of 15 lakh square feet.
The Gurugram real estate market has witnessed remarkable growth, with residential property sales doubling to 4,864 units in Q4 2024 from 1,995 units in the same period the previous year, according to PropTiger data.
Emaar India continues to expand its footprint across key cities, including Delhi-NCR, Mohali, Lucknow, Indore, and Jaipur. The company entered the Indian real estate sector in 2005 through a joint venture with MGF Development, investing ₹8,500 crore. However, in April 2016, Emaar Properties separated from the partnership through a demerger.
With its latest projects, Emaar India reaffirms its commitment to delivering premium residential spaces in India's booming luxury real estate sector.
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