by THO
Emaar India will invest close to ₹1600 crore in its new luxury project, Urban Ascent, in Gurugram and expects a revenue of ₹3400 crore from sales, the company has said.
The projectspread over 9.164 acres, is located at Sector 112 on Dwarka Expressway in Gurugram. The company will be developing close to 800 apartments in the project.
Urban Ascent offers a range of 3- and 4-bedroom residences to suit diverse customer needs. According to a statement, it has easy access to Gurugram and Delhi. Apartment prices range from ₹3.52 crore to ₹5.47 crore, excluding GST, common area maintenance charges, registration, and stamp duty. The company said the project is expected to be delivered in six years.
“We are excited to launch our first project of 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.
In November last year, Emaar India launched a new project, ‘Amaris’, at Sector 62 in Golf Course Extension Road, Gurugram. The total investment, excluding land cost, is ₹1,000 crore. The company is developing 522 apartments in this 6.2-acre project, with a 15 lakh square feet development potential.
Emaar India has a portfolio of residential and commercial spaces across Delhi-NCR, Mohali, Lucknow, Indore and Jaipur.
Emaar Properties entered the Indian real estate market in 2005 in partnership with India’s MGF Development and invested ₹8,500 crore through the joint venture firm Emaar MGF Land.
In April 2016, Emaar Properties decided to end the JV through demerger.
