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Real estate developer Elan Group has awarded an INR 840 crore construction contract to Tata Projects for its newly launched luxury residential development in Gurugram. The contract covers construction works for Elan The Statement a high-end housing project located in Sector 49. Spread across six acres, the development will comprise 230 apartments, with Elan Group committing a total investment of around INR 1,600 crore for the project. The developer stated that the appointment of Tata Projects reflects its focus on engineering expertise, execution capability and delivery reliability for large-scale residential developments. With this project, Elan Group aims to strengthen its presence in Gurugram's premium housing segment, while Tata Projects adds another significant residential assignment to its portfolio in the National Capital Region.
Elan Group has awarded a construction contract valued at INR 840 crore to Tata Projects for the development of its latest luxury residential project in Gurugram, according to a company statement. The contract pertains to construction works for Elan The Statement, a newly launched housing project located in Sector 49, one of the city's established residential corridors. Advertisement
The Gurugram-based real estate developer plans to invest approximately INR 1,600 crore to develop the six-acre project, which will comprise 230 residential apartments. Positioned in the premium segment, the project is expected to cater to demand for high-end housing in the southern sectors of Gurugram, which have witnessed steady residential absorption in recent years due to improving social and physical infrastructure.
Tata Projects will be responsible for executing the construction works for the project. The company brings extensive experience in delivering large and complex developments across residential, commercial and infrastructure segments. Elan Group said the selection of Tata Projects was driven by the scale of the project and the need for strong engineering capabilities, execution discipline and timely delivery.
Commenting on the development, Elan Group Chairman Rakesh Kapoor said projects of this scale require partners with proven technical depth and a track record of execution excellence. He added that Tata Projects legacy of precision, reliability and engineering expertise aligns with the group's objective of creating residential developments with long-term value and durability.
Elan The Statement forms part of Elan Group's broader strategy to expand its residential portfolio in key micro-markets of Gurugram. The developer has been actively focusing on high-value residential and mixed-use projects, alongside commercial developments, to diversify its portfolio and strengthen its brand positioning in the National Capital Region.
Elan Group's overall portfolio includes 15 projects spanning residential, commercial and hospitality segments, with a cumulative built-up area of around 25 million sq ft. The company has delivered and launched multiple developments in Gurugram and continues to evaluate opportunities in high-demand urban locations.
The award of the construction contract also underlines continued momentum in Gurugram's residential development activity, particularly in the luxury segment, where developers are increasingly partnering with established construction firms to ensure quality execution and timely completion amid rising buyer expectations.
Source - PTI
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