Birla Estates' premium Gurugram proj worth ₹1,800 cr sold out in 24 hrs

Birla Estates' premium Gurugram project Birla Pravaah sold out within 24 hours of launch, generating over Rs 1,800 crore in sales across 492 units as demand for premium homes stays strong

Birla Pravaah, a premium residential project of Birla Estates, a wholly owned subsidiary of Aditya Birla Real Estate, sold out within 24 hours of launch, clocking sales of over Rs 1,800 crore.

 

The project is located in Sector 71, Gurugram, and comprises 492 units with configurations of three-bedroom (3BHK) and three-bedroom plus utility residences of 1,358 square feet and 1,722 square feet. The project also has a few penthouses and duplexes. It is spread across 5.075 acres, with over 30 amenities and 70 per cent open space. The company achieved an average selling price of around Rs 25,000 per square foot.

 

KT Jithendran, managing director and chief executive officer at Birla Estates, told Business Standard: “We have established a very strong brand on the back of our response in our previous projects — Birla Navya and Birla Arika. Both of them have done extremely well. We were very well prepared in terms of understanding the market, the competition, the customer demands, etc. Also, the brand legacy, the right pricing, the right location and the right sizing helped us to achieve this milestone for Birla Pravaah.”

 

Jithendran said the response underscores increasing demand for premium, well-designed residences in the National Capital Region (NCR). He added that “a bulk” of buyers in the project are end-users and first-time buyers from across India and overseas, which accounted for about 12 per cent of total bookings.

 

Birla Pravaah is the company’s third project in the Gurugram market. In March this year, the company sold homes worth about Rs 3,000 crore through its luxury residential project Birla Arika in Sector 31, Gurugram. Birla Estates entered Gurugram in 2020 with the launch of Birla Navya in Sector 63A.

 

Jithendran also said there was “an overflow of bookings” for Birla Pravaah, underlining strong demand for the project.