Real estate firm, Emaar India will invest Rs 900 Crore ($108.1 Million) for the development of luxury housing projects in Gurugram, India. Its expansion plan will accomplish this over the next four years.
The company is part of Dubai-based Emaar Properties. It has already commissioned and sold 424 luxury properties under the Urban Oasis mass housing project.
In an interwiew, Kalyan Chakrabarti. CEO, Emaar India, stated that they launched the residential project after a gap of almost four years. Emaar India sold all 424 apartments opened in the first phase and clocked a turnover of Rs 1,723 crore.
Similar Luxury Housing Projects Emaar India Are Involved In.
Emaar India started operations in India in 2005 and continues to deliver on its brand promise through timely deliveries and a customer-centric approach. Some of these projects include the Palm Springs Villas on Golf Course Extension Road Gurgaon for residential and commercial properties. Other well-known projects include Palm Villas on Golf Course Road and Commonwealth Games Village in Delhi. Others are Emaar Palm Hills and Emaar Gurgaon Greens on the Dwarka Expressway. Emaar properties are popular for their architecture, excellent engineering, and impeccable workmanship.
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He continued to add that the project had been subscribed 10 times with 4,259 expressions of interest for 424 available homes. The demand for luxury properties in all major cities, including Gurugram, is very high from both end-users and investors.
Additionally, when asked about the cost of the project, Chakrabarti said it would be around Rs 900 Crore. This would exclude the land cost. They are also to be responsible for leveraging the robustness of the SFDC software to streamline the registration process.
On the status of existing projects, Chakrabarti said that the company has completed all existing residential projects and handed over the properties to customers. Additionally, the company would focus on launching more residential projects in Dehli-NCR and other places in north India where it has a land bank.
