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.