NCR-based developer Elan Group announced that it will invest ₹1,600 crore to develop an ultra-luxury residential project in Gurugram.
Located in Sector 49, Gurugram, the project will span six acres. In the first phase, the development will feature 230 four-bedroom residences across five towers, with unit sizes ranging between approximately 4,300 and 4,500 square feet.
However, the developer has not yet disclosed the project’s expected sales potential or completion timeline.
“The firm is in the process of finalizing a construction partner for the contract,” they added. Elan confirmed that London-based architectural firm Benoy has designed the project. While the company has not clarified the targeted price points, it stated that the high-value residences will deliver design-led and experience-driven living.
The project sits along Sohna Road and offers connectivity to Golf Course Extension Road and Southern Peripheral Road, both of which rank among Gurugram’s premium real estate micro-markets.
“Over the last three years, property values in the region have risen by nearly 74 percent, while rental values have grown close to 50 percent, highlighting rising demand and strong long-term appreciation potential,” the developer said.
Additionally, Elan stated that upcoming metro expansion and improved road infrastructure will further enhance the area’s appeal for luxury homebuyers. Commenting on the location, Vineet Dawar, President – Sales and Strategy at Elan Group, said Sector 49 is emerging as one of Gurugram’s most promising and well-developed growth corridors, supported by strong infrastructure readiness, thriving commercial hubs, and evolving lifestyle preferences.
“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 Group aims to deepen its presence in the Gurugram real estate market. This announcement follows the company’s earlier plan to invest nearly ₹3,000 crore in another ultra-luxury housing project along the Dwarka Expressway in Gurugram. Currently, Elan Group holds a portfolio of 15 projects across Gurugram and New Delhi, with a cumulative built-up area of around 25 million square feet.
