Emaar Expects Rs 34 Billion Revenue from Gurugram Luxury Project

05 Feb 2025 CW Team

Emaar India anticipates generating approximately Rs 34 billion in revenue from its newly launched luxury housing project, Urban Ascent, in Sector 112, Gurugram. The project, spanning 9.2 acres, will feature 816 apartments and is being developed under a joint development agreement (JDA) with landowners.

Emaar India CEO Kalyan Chakrabarti stated that the company is investing Rs 16 billion in this green project, with apartments priced between Rs 25 million and Rs 60 million. The development is expected to be completed within four to five years.

The demand for luxury housing in Delhi-NCR remains strong among both end-users and investors. V S Realtors founder Vijay Harsh Jha highlighted that Emaar’s recent project along Dwarka Expressway received more expressions of interest than the available units, driven by the expressway’s completion.

In November 2024, Emaar launched Amaris in Sector 62, Golf Course Extension Road, Gurugram, with a Rs 10 billion investment (excluding land cost). The 6.2-acre project includes 522 apartments with a development potential of 15 lakh sq. ft.

According to PropTiger, residential sales in Gurugram surged to 4,864 units in the October-December 2024 quarter, more than doubling from 1,995 units in the same period the previous year.

Emaar Properties entered India in 2005 through a joint venture with MGF Development, investing Rs 85 billion. However, in April 2016, the company demerged from MGF, taking full control of its operations in India. Emaar India now has a portfolio spanning Delhi-NCR, Mohali, Lucknow, Indore, and Jaipur across both residential and commercial segments.

(Business Standard)

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