Emaar India

Realty firm Emaar India will invest around Rs 1,000 crore to construct a new luxury housing project in Gurugram amid strong demand for premium residential properties. The company has launched a new project 'Amaris' at Sector 62 in Golf Course Extension Road, Gurugram. "We have launched a new housing project in Gurugram. We are getting a tremendous response from customers," Emaar India CEO Kalyan Chakrabarti told PTI. He said the company will develop 522 apartments in this 6.2-acre project, with a development potential of 15 lakh square feet. Asked about project cost, Chakrabarti said it will be around Rs 1,000 crore excluding land cost. The total revenue potential from this project is estimated at around Rs 2,500 crore, he said. "This project stands as a testament to Emaar's unwavering commitment to providing high-quality living spaces that align with our customers' needs and uphold the highest design standards," Chakrabarti said. He said the project will be completed in the nex

Amaris is Located at Sector 62, in Golf Course Extension Road micro market in Gurugram, which is one of the most upmarket neighborhoods in Gurugram, Delhi NCR.

The company's first project in the state will soon be launched in Alibag, with an estimated revenue potential of about Rs 700 crore

The attached properties, spanning 401.65 acres in Gurugram and Delhi, are linked to an ongoing investigation into fraudulent land acquisitions

Realty firm Emaar India will invest Rs 900 crore over the next four years to develop a luxury housing projects in Gurugram as part of its expansion plan, a top company official said. The company, which is part of Dubai-based Emaar Properties, has launched and already sold 424 luxury homes in its group housing project 'Urban Oasis' located at Sector 62, Golf Course Extension Road in Gurugram. In an interview with PTI, Kalyan Chakrabarti, CEO of Emaar India, said, "We launched a residential project after a gap of almost four years, and were humbled by the response from the market." Emaar India has sold out all 424 flats launched in the first phase for Rs 1,723 crore in revenue. It received 10 times subscription with 4,259 expression of interests for the 424 homes available. He said the demand for luxury homes in all major cities including Gurugram is very strong from both end users and investors. Asked about the project cost, Chakrabarti said it will be around Rs 900 crore excluding

Emaar has alleged that MGF's promoter Shravan Gupta and other associates are attempting to sell the land, valued over Rs 500 crore

Munot has resigned from the company to pursue his personal interest

Says his group hopes to play a part in making India emerge as an economic super power over the next decade

The company said that the results are not comparable because of adoption of new accounting standards for revenue recognition

Firm's overall debt stands at over Rs 5,000 cr

Prior to initiation of demerger, Emaar Properties held around 49% stake in Emaar MGF Land

Realty firm Emaar India has appointed Snapdeal's Chief Strategy and Investment Officer Jason Kothari as independent director to strengthen its board and complete all its ongoing projects. It has also roped in Khaitan & Co partner Sudip Mullick as independent director on the board. Dubai-based Emaar Properties, which entered the Indian real estate market in 2005 in partnership with India's MGF Development, had in April last year decided to end the joint venture through demerger. Emaar had invested Rs 8,500 crore through this JV firm Emaar MGF Land. Emaar India has appointed Kothari and Mullick as company's independent director, sources said. When contacted, Emaar India spokesperson confirmed the development. "We at Emaar India, under the leadership of Emaar Dubai, believe that good corporate governance is essential for an organisation and leads to value creation for all its stakeholders," a company spokesperson said. "In order to meet such objective, the company has recently .

The company has about 50 ongoing projects in Gurgaon, Jaipur, Lucknow, Mohali and Chennai