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Elan Group has announced plans to invest around INR 1,600 crore in a new luxury residential project in Gurugram, underlining continued demand for high-end housing in the city. The newly launched project, Elan The Statement, is spread across six acres in Sector 49 and will comprise 230 apartments. The company stated that the investment reflects sustained buyer interest in premium homes in Gurugram over the past few years. Earlier this year, Elan Group had also revealed plans to invest nearly INR 3,000 crore in an ultra-luxury project along the Dwarka Expressway. The developer currently has 15 projects across Gurugram and New Delhi, with a built-up area of about 25 million sq ft.
Real estate developer Elan Group has stated that it will invest approximately INR 1,600 crore to develop a luxury housing project in Gurugram, citing continued strong demand for premium homes in the market. Advertisement
The company has launched a 6-acre residential project, Elan The Statement, at Sector 49 in Gurugram. The development will comprise 230 apartments and forms part of the group's broader strategy to expand its presence in the luxury housing segment.
According to the company, the estimated investment required to develop the project stands at around INR 1,600 crore. Elan Group indicated that demand for luxury residential properties in Gurugram has remained robust over the past few years, supporting new project launches in the segment.
Earlier this year, the developer had announced plans to invest close to INR 3,000 crore in an ultra-luxury housing project along the Dwarka Expressway in Gurugram. The project, Elan The Emperor, is located at Sector 106 and is planned as part of a township spread across more than 50 acres.
The Dwarka Expressway development is proposed to include residential apartments, branded residences, a high-end shopping mall, a luxury five-star hotel and premium office spaces, positioning it as a mixed-use destination.
Elan Group currently has a portfolio of 15 projects across Gurugram and New Delhi, with a total built-up area of around 25 million sq ft.
Source - PTI
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