Advertisement
Private equity has played a significant role in shaping Indi...
In today’s real estate landscape, fitness is often treated...
In this episode of Prop Personalities, we sit down with Hars...
Luxury real estate is one of the most talked-about segments ...
Welcome to Prop Personalities by Prop News Time - a podcast ...
Elan Group has commenced construction of its ultra-luxury residential project, Elan The Statement, in Sector 49, Gurugram, following the award of an INR 840 crore construction contract to Tata Projects. Spread across approximately six acres, the development entails a planned investment of around INR 1,600 crore and will feature five residential towers with unit sizes ranging from about 4,285 sq ft to 7,270 sq ft. Designed by international firms, the project reflects continued activity in the premium housing segment in Gurugram. The launch of construction marks a key milestone in the execution timeline, with the developer strengthening its presence in the high-value residential market.
Elan Group stated in the past week that it has commenced construction of its ultra-luxury residential project, Elan The Statement, in Sector 49, Gurugram, after awarding an engineering, procurement and construction contract worth INR 840 crore to Tata Projects, as part of its expansion in the premium housing segment. Advertisement
The project, being developed over an area of approximately six acres, involves a total planned investment of around INR 1,600 crore. It will comprise five residential towers designed to offer large-format homes, with unit sizes ranging from nearly 4,285 sq ft to 7,270 sq ft. The development has been structured with a two-residences-per-core configuration, incorporating private lift lobbies to provide greater privacy within each unit.
According to the company, the project’s architectural design has been prepared by London-based firm Benoy, featuring a metal and glass façade. The landscape design is being undertaken by SWA Group, a California-based firm, with the intent of integrating open spaces within the residential layout.
Rakesh Kapoor, Chairman of Elan Group, indicated that the commencement of construction reflects the company’s focus on project execution and delivery timelines. He stated that the appointment of Tata Projects is expected to support adherence to construction benchmarks across engineering and delivery standards.
Barun Pal Chowdhury, Executive Vice President and Strategic Business Unit Head for Buildings and Airports at Tata Projects, stated that the company will leverage its experience in executing large-scale infrastructure projects, with a focus on engineering processes, project management systems, and construction timelines.
The project is positioned within Gurugram’s established residential micro-market, where developers have continued to introduce premium and luxury housing projects in response to sustained demand from high-income buyers. The development adds to Elan Group’s portfolio, which spans residential, commercial, retail and hospitality segments across Gurugram and New Delhi.
Elan Group currently has 15 projects with a combined built-up area of approximately 25 million sq ft. The company has been expanding its presence in the luxury segment through a pipeline of residential and mixed-use developments.
Tata Projects, part of the Tata Group, operates as an engineering, procurement and construction company with experience across infrastructure segments including buildings, transport systems, energy, and industrial facilities. Its role in the project includes end-to-end construction services covering execution and delivery.
The commencement of construction marks the transition of the project from planning to execution, with the developer advancing its pipeline in Gurugram’s high-value residential market.
Source - PTI
5th Jun, 2025
25th May, 2023
11th May, 2023
27th Apr, 2023
Advertisement
Facebook
Whatsapp
