Emaar India, a subsidiary of Emaar Properties, is set to invest Rs 900 crore in a luxury housing project in Gurugram as part of its expansion strategy. The 'Urban Oasis' project at Sector 62, Golf Course Extension Road, has already sold out its first phase, comprising 424 luxury homes, generating revenue of Rs 1,723 crore. The overwhelming response, with 10 times subscription and 4,259 expressions of interest, reflects robust demand for luxury homes in Gurugram and major cities. Emaar India, having completed legacy projects, aims to launch more residential developments in Delhi-NCR and other North Indian locations.
Emaar India, a realty firm under the umbrella of Dubai-based Emaar Properties, is set to inject Rs 900 crore into a luxury housing project in Gurugram over the next four years as part of its strategic expansion initiative. The company has successfully launched and sold all 424 luxury homes in the initial phase of its 'Urban Oasis' group housing project situated at Sector 62, Golf Course Extension Road in Gurugram, generating an impressive revenue of Rs 1,723 crore. This first phase witnessed overwhelming demand, with 10 times subscription and 4,259 expressions of interest for the 424 available homes. According to Kalyan Chakrabarti, CEO of Emaar India, the robust demand for luxury homes extends across major cities, including Gurugram, catering to both end users and investors.
To ensure process fairness and transparency, the company enlisted the services of a prominent audit firm, Ernst & Young (E&Y), while leveraging the robust SFDC software for a streamlined registration process. Emaar India's commitment to transparency and efficiency underscores its dedication to meeting high industry standards.
Having successfully completed all legacy housing projects, Emaar India is now focused on delivering possessions to customers. Looking ahead, the company plans to concentrate on launching additional residential projects in Delhi-NCR and other strategic locations in North India where it holds a substantial land bank. This strategic shift aligns with the company's vision for sustained growth and its recognition of emerging opportunities in the real estate market.
The 'Urban Oasis' project's exceptional performance in the market's first phase positions Emaar India as a key player in the luxury housing segment. The strong subscription and expressions of interest underscore the continued demand for high-end residential offerings. As the company moves forward with its expansion plan, it aims to capitalize on the positive market dynamics and leverage its experience and expertise to deliver exceptional value to homebuyers and investors alike.
In conclusion, Emaar India's substantial investment in the Gurugram luxury housing project reflects its confidence in the market's potential. The company's commitment to transparency, efficient processes, and timely project delivery positions it as a notable player in India's real estate landscape.
Advertisement
Facebook
Whatsapp
