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HomeCityGurugram: Emaar India plans Luxury Housing Project for Rs. 1600 Crore

Gurugram: Emaar India plans Luxury Housing Project for Rs. 1600 Crore

Amid news of the giant transaction, Emaar India unveils its plan to build a luxury housing project in Gurugram. The developer announced its new luxury residential project named, Urban Ascent in Gurugram. According to the sources, the developer expects revenue of Rs. 3400 Crore from the same.

Located in Sector 112, Dwarka Expressway, Gurugram, the giant project will be widespread over 9.164 acres. The upcoming luxury project by Emaar India will have 800 apartments.

Also Read: At Dwarka Expressway Property Prices Soars Significantly, as Delhi-NCR Real Estate Witness Rise

The developers aim to meet the demand for lavish 3BHK and 4BHK apartments in Gurugram with this project.  It is believed that the strategic location of this project will be easily proximity to Delhi, the national capital. Emaar India welcomes property investors in the price range of Rs. 3.52 Crore to Rs. 5.47 Crore. It includes GST, common area charges, registration, and stamp duty charges.

The project is likely to be delivered in six years.

“We are excited to launch our first project in 2025… We are dedicated to building communities that embody a sense of belonging and a cohesive and congenial living experience,” Emaar India CEO Kalyan Chakrabarti said.

Earlier in November 2024, Emaar India introduced ‘Amaris’ at Sector 62, Golf Course road extension, Gurugram.  The developer invested Rs. 1000 Crore (excluding cost) in a giant land parcel.

Here at 6.2 acres, Emaar India is developing 522 apartments with an overall development of 15 lakh square feet.

Also Read: Reasons to Invest in Dwarka Expressway

Developer entered Indian Real Estate via Joint Venture

Emaar, the UAE-based realtor forayed into Indian real estate in 2005 via a partnership with MGF Development. It invested Rs. 8,500 Crore via joint venture Emaar MGF Land. Now, Emaar India has a massive portfolio in the Indian property markets of Delhi-NCR, Mohali, Lucknow, Indore, and Jaipur.

However in April 2016, Emaar Properties concluded their joint venture with MGF Development.

Adani Realty amongst top Contenders for Emaar Deal in India

Adani Realty will likely be one of the top five Indian realtors by revenue if it acquires Emaar India, the Indian arm of the Dubai-based Emaar group.

According to the discussion Emaar is likely to hold a company value between Rs. 4,000- and 5,000 crore. The deal will also be the largest real estate deal by Adani Realty, confirmed Emaar. The deal will strengthen Adani Realty’s stature in the market and will help it expand its footprints in the western part of India.

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