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Rs 8.3 cr for 4bhk: Is Dualis Gurugram the next big luxury real estate bet?

The twin towers will rise nearly 150 meters high, offering 198 spacious 3 and 4 BHK residences starting at 2,850 sq. ft, designed with affluent urban buyers in min

With a development portfolio exceeding 142 million square feet, SPRE has a presence in major Indian cities, including Mumbai, Pune, Bengaluru, Gurugram, and Kolkata

Sunainaa Chadha NEW DELHI

5 min read Last Updated : May 17 2025 | 1:42 PM IST

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For high-net-worth individuals looking to combine lifestyle with long-term investment, a new luxury housing project in Gurugram might be worth a closer look. Mumbai-based realty developer SPRE (Shapoorji Pallonji Real Estate), in collaboration with Kreeva Group, has launched ‘The Dualis’, a Rs 1,400 crore premium residential project located in the prime Sector 46 of Gurugram. The project features 2 towers with 198 luxurious 3- and 4-BHK residences with saleable areas ranging from 2,850 to 3,600 square feet. Each apartment is designed with wraparound decks and expansive layouts for seamless indoor-outdoor living experiences.

Investment: ASK Property Fund has joined SPRE and KREEVA in this venture, collectively investing over Rs 270 crore. Pricing: The pricing for residences at The Dualis begins at Rs 6.3 crore (inclusive of 5% GST) for a 3 BHK unit, with additional stamp duty and other government charges applicable at the time of possession. For a 4 BHK unit, the cost is Rs 8.35 crore (inclusive of 5% GST), again subject to stamp duty and government levies as applicable during possession.

Developer Profiles:

SPRE: With a development portfolio exceeding 142 million square feet, SPRE has a presence in major Indian cities, including Mumbai, Pune, Bengaluru, Gurugram, and Kolkata.

Kanodia Group: A diversified conglomerate with interests in cement, hygiene, building solutions, media, and real estate

Earlier this week, Trump Residences in Gurugram, developed by Smartworld Developers and Tribeca Developers, sold out on launch day, recording Rs 3,250 crore in allotments. The project’s four ultra-premium penthouses, valued at Rs 125 crore, were also fully allotted, Smartworld Developers said in a statement on May 13. Strategically located with direct access from the 60-metre-wide Netaji Subhash Marg, The Dualis offers excellent connectivity to key arterial routes including Sohna Road, NH8, Golf Course Road, and Golf Course Extension Road. It is in close proximity to Medanta Medicity, and the upcoming IKEA (one of India’s largest IKEA). “With ‘The Dualis’, we are entering a high-potential micro-market with a product that combines location, scale, and quality. This is a long-term investment in the future of luxury housing in Gurugram, backed by partners who share our vision for value creation and timely delivery," said Sriram Mahadevan, CEO of Shapoorji Pallonji Real Estate (SPRE) & Managing Director of Joyville Shapoorji Housing.

Gurugram isn’t just riding the luxury housing wave — it’s leading it.

According to Haryana RETA data, project value in Gurugram more than doubled from Rs 45,000 crore in 2023 to Rs 88,000 crore in 2024, despite fewer projects (down from 239 in 2017 to 124 in 2024). This indicates a clear pivot toward large, premium housing developments over volume-driven launches.

Key luxury launches in Gurugram recently include:

Trump Towers Gurgaon: Rs 3,250 crore worth of units sold on launch day.
Elan The Emperor (Sector 106): Rs 1,100 crore ultra-luxury project under construction by Leighton Asia.
Sky Palazzo Residences (Sector 88B): Rs 510 crore premium launch by Trinity, built by BL Kashyap.

Moreover, with 23 ongoing projects expected to deliver around 11,900 residential units by 2029, Gurugram’s Southern Peripheral Road (SPR) remains a prime draw for investors and homebuyers, according to online analytics platform PropEquity. In the NCR region, Gurugram accounts for 87% of all luxury segment launches, solidifying its dominance.

Gurugram has witnessed a price jump of 84% in the last five years , with average rates climbing from Rs 6,150 per sq. ft in 2020 to Rs 11,300 per square feet as per data analysed by Anarock, a real estate consultancy firm.

Why 'The Dualis' May Be Worth Your Attention

Location: Close to Golf Course Road, hospitals, international schools, and premium retail.

Design & Amenities: Large-format homes, 60,000+ sq. ft. of shared amenities, and SPRE’s luxury legacy.

Investment Angle: Limited inventory of just 198 units ensures exclusivity and potential capital appreciation.

“This collaboration is in line with our vision of expanding our footprint in key markets across India, while delivering high-quality residential projects that cater to the evolving needs of homebuyers,” said Venkatesh Gopalakrishnan, Director, Group Promoter’s Office, MD & CEO, Shapoorji Pallonji Real Estate.

SPRE has a development potential of over 142 million square feet, with projects in Mumbai, Pune, Bengaluru, Gurugram, and Kolkata, with a variety of developments, from luxury apartments to aspirational homes for mid-income homebuyers.

Project Overview

Name: The Dualis
Developer: Shapoorji Pallonji Real Estate, in partnership with Kreeva and ASK Property Fund
Location: Sector 46, Gurugram
Total Units: 198 ultra-luxury apartments
Towers: 2 high-rise towers, each approximately 150 meters tall
Configuration: 3 & 4 BHK residences
Size Range: Approximately 2,850 to 3,600 sq. ft.
Launch Date: May 15, 2025
Estimated Revenue: Rs 1,400 crore over the next five years

Design & Architecture