real estate news

Emaar India Invests ₹1600 Crore in Luxury Housing Project 'Urban Ascent' in Gurugram

By GeoSquare News Desk · Published 2025-01-26

Emaar India, a prominent real estate developer, is making significant strides in the luxury housing market with a new project, 'Urban Ascent,' in Gurugram.
The company has announced an investment of ₹1600 crore for this project and aims to achieve a revenue of ₹3400 crore from the sale of its luxury units.

Urban Ascent is strategically located at Sector 112 on the Dwarka Expressway in Gurugram, which is known for its prime real estate and excellent connectivity to both Gurugram and Delhi.
Spread over 9.164 acres, the project will consist of approximately 800 apartments, ranging from 3 to 4 bedrooms.
This variety of apartments is designed to cater to the diverse needs of potential buyers, from young professionals to growing families.

The apartments in Urban Ascent are priced between ₹3.52 crore and ₹5.47 crore, excluding additional charges such as GST, common area maintenance, registration, and stamp duty.
The project is expected to be completed and delivered within a span of six years, according to the company's statement.

Kalyan Chakrabarti, CEO of Emaar India, expressed his enthusiasm about the project, saying, 'We are excited to launch our first project of 2025.
Our goal is to build communities that foster a sense of belonging and provide a cohesive and congenial living experience for all residents.'

In addition to Urban Ascent, Emaar India has recently launched another project, 'Amaris,' in Sector 62 of Gurugram, on Golf Course Extension Road.
This project, which has a total investment of ₹1000 crore (excluding land cost), will develop 522 apartments across a 6.2-acre area, with a development potential of 15 lakh square feet.

Emaar India has a robust portfolio of residential and commercial spaces across major cities in India, including Delhi-NCR, Mohali, Lucknow, Indore, and Jaipur.
The company entered the Indian real estate market in 2005 through a joint venture with MGF Development, investing ₹8500 crore.
However, in April 2016, Emaar Properties decided to end the joint venture through a demerger, focusing on independent projects to better serve the Indian market.

With these new projects, Emaar India continues to strengthen its presence in the luxury housing segment, promising high-quality living spaces and exceptional value for its customers.