The demand for luxury homes is continuously increasing, which is why not only home buyers but also investors are increasingly willing to invest in this segment. Emaar India, the Indian arm of global brand Emaar, is investing around Rs 1,000 crore in its new luxury residential project ‘Amaris’ located in Sector 62, Gurugram, Delhi NCR. Aiming to generate revenue of around Rs 2,500 crore, Emaar India CEO Kalyan Chakraborty told CNBC-TV18 that “the project, which is being built on a 6.1-acre plot, will have an area of built of 1.5 million square feet. “There will be four towers of 34 floors each.”
According to Chakraborty, Emaar has already purchased the land and of the total investment, “Rs 850-900 crore will be spent on the construction of the project alone. “We are committed to completing this project in the next five years. The project will include 2BHK, 3BHK, 4BHK and 4BHK Plus configurations, with prices ranging from Rs 3.5 crore per apartment and above.
