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Hines, the international real estate firm, and Conscient Infrastructure, a trusted name in the real estate industry in India have awarded a Rs 5 billion construction contract for their premium residential development ‘Elevate’ to Tata Projects, one of India’s fastest growing and most admired construction companies.
Tata Projects will be responsible for construction, coordination and delivery of this premium residential project located in an exclusive enclave of Sector 59 of Gurugram’s Golf Course Extension Road. The project will be completed by 2023.
Prachish Vasudeva, Senior Director, Hines India, said, “We are delighted to award this prestigious contract to one of the finest construction companies in India. Elevate is a high-quality project, and in Tata Projects, we find a partner who shares our commitment to quality, transparency, safety and timely delivery to create the highest possible value for our customers.”
Elevate is a thoughtfully designed, premium residential development option for customers, priced between Rs 2.4-4.0 cr. ticket size. The project offers 556 apartments with equivalent saleable area, sizes ranging from 2,100 sq ft to 3,400 sq ft. Conscient Infrastructure is the developer for the project while Hines is the development advisor and investment manager. The residential project with an estimated value of Rs 2,000 crore is Hines’s first residential venture in India.
Rajesh Jain, Director, Conscient Infrastructure, said, “We chose Tata Projects because of our confidence in their construction engineering ability and their commitment to deliver high quality that an international architectural design requires.”
Designed by the famous architect from Barcelona, Ricardo E Bofill, Principal Chief Designer, RBTA, the apartment units comprise 3 and 4 bedroom apartments in varying sizes. The unique aspect of the project is its differentiating features and the eye for detail with which this project is designed to give complete peace of mind to each customer.
Vinayak Deshpande, Managing Director, Tata Projects, said, “We are happy to be constructing this premium residential project using world-class construction techniques with uncompromising standards of safety and quality. It is these qualities that have made us one of India’s most trusted companies in the infrastructure and construction sector. In fact, some of the country’s most important housing projects are being built by Tata Projects.”
Elevate aims to provide better homes through well thought out spaces to discerning consumers. The project has a rich amenity set, which includes:
Founded in the year 1975, Conscient Infrastructure deals in luxury residential properties and commercial properties across India. The company’s operations span all aspects of real estate development, ranging from identification and acquisition of land, planning, execution and marketing of the projects, to maintenance and management of completed developments. The company is known for on-time delivery, high quality products and reliability. One of the most trusted and highly regarded developers, Conscient is the name behind some of the most distinguished residential projects in the country.
Hines is a privately owned global real estate investment firm founded in 1957 with a presence in 219 cities in 23 countries. Hines has approximately $124.3 billion of assets under management, including $63.8 billion for which Hines provides fiduciary investment management services, and $60.5 billion for which Hines provides third-party property-level services. The firm has 148 developments currently underway around the world. Historically, Hines has developed, redeveloped or acquired 1,362 properties, totalling over 449 million sq ft. The firm’s current property and asset management portfolio includes 514 properties, representing over 222 million sq ft. With extensive experience in investments across the risk spectrum and all property types, and a pioneering commitment to sustainability, Hines is one of the largest and most-respected real estate organisations in the world.
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