Emaar India, the Indian arm of Dubai-based real estate giant Emaar Properties, is once again making waves in Gurugram’s luxury housing market. The company has announced a fresh investment of around Rs. 1,600 crore for a new residential project, named Serenity Hills, in Sector 86 of the city, marking a strategic push amid sustained consumer demand for premium homes.
Speaking to reporters on November 12, Emaar India CEO Kalyan Chakrabarti outlined the project’s scope and ambition. “We are launching the first phase of a new housing project in Gurugram. We will develop 997 apartments across seven towers,” he said, emphasizing that quality, design, and greenery would be central to the development. Spread over 15 acres in its first phase, the project promises not only spacious living but also a focus on environmental responsibility, having secured an IGBC Platinum pre-certification for green building standards.
The second phase of Serenity Hills, covering an additional 11 acres, is expected to be launched later, adding more residential inventory to Gurugram’s growing luxury housing segment. According to Chakrabarti, the prices for units in the first phase will range from Rs. 3 crore to Rs. 5.7 crore, all-inclusive, reflecting the premium positioning of the project.
Construction is slated to begin in a few months, with the project expected to be delivered within five years. Emaar India plans to fund the development largely through internal accruals, underscoring the company’s confidence in the Indian residential market and its ability to generate capital internally to support large-scale projects.
The launch comes at a time when Gurugram continues to witness robust demand for high-end residential properties, with prices stabilizing after years of gradual escalation. “The market continues to be strong,” Chakrabarti noted, adding that Emaar India is currently developing 12.5 million square feet of residential projects across various cities, including Gurugram, as it seeks to capitalize on the city’s growing appetite for premium housing.
Emaar Properties, headquartered in Dubai, entered the Indian real estate market in 2005 through a joint venture with India’s MGF Development. Over the years, the Emaar-MGF collaboration invested roughly Rs. 8,500 crore into the Indian market, bringing several landmark residential and commercial projects to major cities. In April 2016, the joint venture was dissolved through a demerger process, allowing Emaar Properties to operate independently in India while continuing to explore partnerships with large Indian corporates, including the Adani Group, without selling stakes in its Indian entity.
Serenity Hills reflects this renewed focus. Beyond the standard appeal of spacious apartments and modern amenities, the project is being designed with environmental sustainability in mind. The IGBC Platinum pre-certification ensures that features like energy efficiency, water conservation, and green landscaping are integral to the project’s layout. For buyers, this means not only a premium living experience but also a commitment to long-term sustainability.
The decision to launch a new luxury housing project in Gurugram aligns with broader trends in the Indian residential sector. While mid-tier and affordable housing have dominated headlines, demand for premium homes in cities like Gurugram has remained resilient. Developers see an opportunity in catering to buyers looking for high-quality residences with superior amenities, integrated greenery, and convenient connectivity.
Emaar India’s strategy also emphasizes phased development to manage investment risk while ensuring high-quality execution. The initial 15-acre first phase will set the tone for design, amenities, and community features. By the time the second 11-acre phase is launched, buyers will have tangible evidence of the project’s quality and value, potentially driving higher absorption rates.
