Elan Group to invest ₹1,600 cr for ultra luxury housing in Gurugram

NCR-based developer Elan Group on Wednesday said it will invest ₹1,600 crore to develop an ultra-luxury housing project in Gurugram.

 

Located in Sector 49, Gurugram, the development will be spread across six acres. The first phase will offer 230 four-bedroom residences across five towers, with unit sizes ranging from around 4,300 to 4,500 square feet.

 

While the developer did not share the expected sales potential and completion timeline for the project, people in the know told Business Standard that these will be finalised once Elan signs a construction contract with a partner.

 

“The firm is in the process of finalising a construction partner for the contract,” they added. Elan said the project has been designed by London-based architectural firm Benoy.

 

 

While there is no clarity on targeted price points, the developer said the high-ticket residences will offer design-led and experience-driven living.

 

The project is located along Sohna Road and connects to Golf Course Extension Road and Southern Peripheral Road, both of which are high-ticket micro-markets in Gurugram.

 

“Over the last three years, property values in the region have risen by nearly 74 per cent, while rental values have grown close to 50 per cent, highlighting rising demand and strong long-term appreciation potential,” the developer said.

 

It added that upcoming metro expansion and enhanced roadway networks are expected to improve the region’s appeal for luxury homebuyers.

 

Commenting on the location, Vineet Dawar, president for sales and strategy at Elan Group, said Sector 49 is emerging as one of Gurugram’s most promising and well-developed growth regions, citing infrastructure readiness, thriving commercial hubs and evolving lifestyle expectations.

 

“The potential of this location is undeniable, and a development of this stature is precisely what the market here is ready for,” he added.

 

With this project, Elan is looking to expand its footprint in the Gurugram market. This comes after the developer announced plans to invest around ₹3,000 crore to develop an ultra-luxury housing project on the Dwarka Expressway in Gurugram.

 

The company has a portfolio of 15 projects across Gurugram and New Delhi, with a total built-up area of about 25 million square feet.