Emaar India To Invest Rs 16 Billion In Gurugram Project
Real Estate

Emaar India To Invest Rs 16 Billion In Gurugram Project

Emaar India, the Indian arm of Dubai-based Emaar Properties, plans to invest Rs 16 billion to develop a luxury residential project in Gurugram comprising around 1,000 apartments, the company said in a statement.

The project, Serenity Hills, spans 26 acres in Sector 86 of New Gurugram and is being launched in phases, with the current phase including seven towers. The first phase will offer 3BHK and 4BHK units, the majority being 3BHKs. The 4BHK units will have a carpet area of 1,576 sq ft with 430 sq ft balconies and parking for three cars. Larger 3BHK units will offer 1,219 sq ft of carpet space with 318 sq ft balconies, while the smaller 3BHK units will feature 948 sq ft of carpet area and 235 sq ft balconies.

Kalyan Chakrabarti, CEO of Emaar India, said Serenity Hills is designed as a “tranquil oasis” offering a refined lifestyle with sustainable architecture and premium amenities. He said apartment prices will range from Rs 30 million to Rs 57 million per unit, with delivery expected in five years.

Amenities will extend across more than 100,000 sq ft, including a 65,000 sq ft clubhouse equipped for leisure, wellness and entertainment.

Developed in partnership with the landowner, the project has received IGBC Platinum pre-certification for sustainable design and construction. Located in Sector 86, Serenity Hills offers connectivity to Southern Peripheral Road, Dwarka Expressway and NH-48.

Earlier in January, Emaar India announced a Rs 16 billion investment in its luxury project Urban Ascent in Gurugram, expecting sales revenue of Rs 34 billion. Spread over 9.164 acres in Sector 112 along the Dwarka Expressway, Urban Ascent will offer nearly 800 apartments. In November last year, the company launched its ‘Amaris’ project in Sector 62 on Golf Course Extension Road, with an investment of Rs 10 billion, excluding land cost. The 6.2-acre development includes 522 apartments with a 1.5 million sq ft development potential.

Emaar India’s portfolio spans residential and commercial developments across Delhi-NCR, Mohali, Lucknow, Indore and Jaipur.

Emaar India, the Indian arm of Dubai-based Emaar Properties, plans to invest Rs 16 billion to develop a luxury residential project in Gurugram comprising around 1,000 apartments, the company said in a statement. The project, Serenity Hills, spans 26 acres in Sector 86 of New Gurugram and is being launched in phases, with the current phase including seven towers. The first phase will offer 3BHK and 4BHK units, the majority being 3BHKs. The 4BHK units will have a carpet area of 1,576 sq ft with 430 sq ft balconies and parking for three cars. Larger 3BHK units will offer 1,219 sq ft of carpet space with 318 sq ft balconies, while the smaller 3BHK units will feature 948 sq ft of carpet area and 235 sq ft balconies. Kalyan Chakrabarti, CEO of Emaar India, said Serenity Hills is designed as a “tranquil oasis” offering a refined lifestyle with sustainable architecture and premium amenities. He said apartment prices will range from Rs 30 million to Rs 57 million per unit, with delivery expected in five years. Amenities will extend across more than 100,000 sq ft, including a 65,000 sq ft clubhouse equipped for leisure, wellness and entertainment. Developed in partnership with the landowner, the project has received IGBC Platinum pre-certification for sustainable design and construction. Located in Sector 86, Serenity Hills offers connectivity to Southern Peripheral Road, Dwarka Expressway and NH-48. Earlier in January, Emaar India announced a Rs 16 billion investment in its luxury project Urban Ascent in Gurugram, expecting sales revenue of Rs 34 billion. Spread over 9.164 acres in Sector 112 along the Dwarka Expressway, Urban Ascent will offer nearly 800 apartments. In November last year, the company launched its ‘Amaris’ project in Sector 62 on Golf Course Extension Road, with an investment of Rs 10 billion, excluding land cost. The 6.2-acre development includes 522 apartments with a 1.5 million sq ft development potential. Emaar India’s portfolio spans residential and commercial developments across Delhi-NCR, Mohali, Lucknow, Indore and Jaipur.

Next Story
Real Estate

NHB Flags Slow PMAY 2.0 Loan Disbursements

National Housing Bank has flagged slower-than-expected loan disbursements under Pradhan Mantri Awas Yojana (PMAY) 2.0 during a recent review with housing finance companies, according to reports. The regulator noted that lending under the interest subsidy scheme has yet to gain the intended momentum, despite the programme being operational for several months. The issue was discussed in a meeting with chief executives of leading housing finance companies last week, where NHB officials said disbursals were falling short of internal targets. Lenders were asked to strengthen follow-through on sanc..

Next Story
Infrastructure Urban

HDFC AMC Enters Private Credit With Structured Debt Fund

HDFC Asset Management Company has entered India’s fast-growing private credit market with the launch of its Structured Credit Fund-I, aimed at providing alternative debt financing to mid-market companies. The International Finance Corporation, a member of the World Bank Group, will invest up to Rs 2.2 billion as an anchor investor in the fund, HDFC AMC said in a statement. The fund has secured commitments of around Rs 12.9 billion in its first close and is targeting a total corpus of Rs 15 billion, with a green-shoe option to raise an additional Rs 10 billion. This includes a sponsor commi..

Next Story
Infrastructure Energy

Coal Imports Seen Easing After November Surge

India’s coal imports, which rose sharply by 28.1 per cent in November, are expected to decline in the coming months as domestic availability improves, according to industry data. Coal imports increased to 25.07 million tonnes in November, compared with 19.57 million tonnes in the same month last year, data compiled by mjunction services ltd showed. The platform is a joint venture between SAIL and Tata Steel. According to mjunction, the increase was largely driven by winter restocking by steel producers, along with fresh buying triggered by weak seaborne coal prices. However, imports are ex..

Advertisement

Subscribe to Our Newsletter

Get daily newsletters around different themes from Construction world.

STAY CONNECTED

Advertisement

Advertisement

Advertisement

Advertisement

Open In App