To be on the Top, Emaar India's eyes are on top 10 cities of India to invest a billion

Realty Giant, Emaar India,intends to introduce approximately 8 to 10 million square feet of new projects this year. The company plans to invest around one billion dollars over the next four to five years. According to Kalyan Chakrabarti, the CEO of Emaar India, nearly 80% of these projects will be located in Gurugram.

Currently the company has its presence in five locations which include Lucknow, Mohali, Indore, Gurugram and Jaipur. It has not yet launched a project in Ludhiana.

In a media interview, Kalyan Chakrabarti said "We hope to acquire lands in a couple of new locations but as of now we have plans to expand only in the same cities where we are present historically. The 8 to 10 mn sq ft where we intend launching this year will primarily be in existing markets. This roughly translates to 8 to 10 projects in existing locations. Majority of our launches will be in Gurugram where the pricing will be upwards of Rs.8000 per sq ft.”

Lately, the company has revealed a luxury project in the prime location of Gurugram's  Sector 62. In the project the comapany has invested nearly Rs.900 crore spread over four to five years.

Talking about the project, he said, The first phase had 424 units and the second phase is expected to have around 60 units. Of the ₹900 crore, the company has spent close to ₹60 crore for the first phase.”

He further added,"The total development cost for the project Urban Oasis is Rs.900 crore spread over a period of four to five years. As much as 85% of the amount is for the first phase and 15% for the second phase."

The luxury project is spread across 9.35 acres of which 80% has been launched. The project also comprises 50,000 sq ft of retail and commercial space.

Emaar Group has also constructed a commercial project named Emaar Business District, located in sector 83, Gurugram. The project is spread across an area of 0.14 mn sq ft and the company intends to invest close to Rs. 150 crore. The expected sales revenue from the project is expected to be close to Rs.330 crore.

The realty farm has few more land banks in Gurugram and numerous projects are waiting for the approval. They are also awaiting to launch a Greenfield project in Mumbai.

Following the demerger, 95% of the projects have been transferred by the company. Chakrabarti mentioned that nearly 2400 housing units were handed over last year, all of which were part of the projects previously owned by the company in India.