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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.
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.
As per Kalyan Chakrabarti, CEO of Emaar India, 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 expressions 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.
"We enlisted one of the big-4 audit firms -- E&Y -- for overseeing the process fairness and transparency, while leveraging the robustness of SFDC software for a streamlined registration process," he said.
The company has completed all legacy housing projects and the possessions are being given to customers. The company plans to focus on launching more residential projects in Delhi-NCR and other locations in North India where it has land bank.
