Elan Group Launches its First Super Luxury Residential Project near Dwarka Expressway, to invest Rs 4,000 crore

Elan Group Launches its First Super Luxury Residential Project near Dwarka Expressway, to invest Rs 4,000 crore

Spread across 30 acres, the project will have approximately 1,800 super luxury residences comprising 3,4,5 BHKs and duplex penthouses ranging from approximately Rs 4 crore to Rs 12 crore.

Gurugram-based Elan Group plans to invest Rs 4,000 crore in the city as it announced the launch of its first residential project “Elan The Presidential” at sector 106 near Dwarka Expressway in Gurugram.

Prior to this, Elan Group has developed retail and commercial projects across Gurgaon.

According to a statement issued by the developer on November 30, Elan Group will invest approximately Rs 4,000 crore in the project and expects sales revenue of Rs 10,000 crore from it.

Ravish Kapoor, Managing Director of Elan Group, said, “We are excited to enter the residential real estate segment with the launch of our super luxury project ‘Elan – The Presidential’ located at the Dwarka Expressway. The project will be developed in three phases, and we are expecting a top line of Rs 10,000 crores from it. We are hopeful that our project will set new benchmarks in the super luxury segment in the NCR.”

Spread across 30 acres, the project will have approximately 1,800 super luxury residences comprising 3,4,5 BHKs and duplex penthouses ranging from approximately Rs 4 crore to Rs 12 crore, the statement said.

The project is planned to be developed in three phases, out of which in phase one the group has launched 728 units, it said.

The statement said that earlier this year in August, Elan Group had received about Rs 425 crore from PAG – an investment firm.

Elan Group at present has 12 retail and commercial projects located across prime locations in Gurugram and New Delhi and a total saleable area of approximately 15 million square feet.

Source : Money Control

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