Realty firm Tulip Infratech will invest Rs 1,100 crore to construct a luxury housing project in Gurugram as part of its expansion plan.The Gurugram-based firm has tied up with a landowner to develop the 7.5 acre project 'Tulip Melrose', comprising over 600 units, on Southern Peripheral Road (SPR), Gurugram."We will be investing around Rs 1,100 crore to develop this project. This excludes land cost," Tulip Infratech promoter Siddharth Jain told reporters here.He said the project would be completed over the next four years.The company has already launched the project for sale. The starting price is around Rs 6 crore.Parveen Jain, Chairman & Managing Director of Tulip Infratech, said: "Southern Peripheral Road is entering a defining phase of growth and is steadily establishing itself among NCR's most important luxury residential destinations."Siddharth said there would be four residential towers of approximately 495 feet, one of the tallest in the SPR belt.Asked about the demand situation in Gurugram, he said the market is slow compared to 2024 level.However, Siddharth said the company has been getting good response from end-users as well as investors because of the competitive price being offered by it.Tulip Infratech has completed more than 10 real estate projects in Gurugram.At present, it is developing a luxury housing project 'Tulip Monsella' with an investment of Rs 3,600 crore and another project 'Tulip Crimson' at a cost of Rs 1,200 crore.
Tulip Infratech to invest Rs 1,100 cr on construction of luxury housing project in Gurugram
Tulip Infratech is making a bold move with a staggering investment of Rs 1,100 crore for a new upscale residential venture in Gurugram, aptly named Tulip Melrose. This luxurious development will boast over 600 exquisite units located along the vibrant Southern Peripheral Road, with construction slated to unfold over the next four years.
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