Conscient Invests Rs 1,200 Cr in Gurugram Luxury Housing Project

New Delhi, Apr 17 (PTI) Realty firm Conscient will invest Rs 1,200 crore to develop a luxury housing project in Gurugram as part of its plan to expand business to tap strong demand.

The company on Thursday announced the launch of its new project 'Elaira Residences', a luxury housing project located in Sector 80, Gurugram.

Conscient will develop 536 apartments in this 5.5-acre project.

The company will sell 268 units in the first phase.

Apartment pricing starts at Rs 14,500 per sq ft (Basic Sale Price).

The total project cost is estimated at around Rs 1,200 crore, the company said.

"We are introducing a new project - Elaira Residences, expanding our luxury residential portfolio in Delhi-NCR. There is a huge demand for housing and we continue to be bullish on the market. We have plans for launching multiple luxury projects in Delhi-NCR," Rajesh Jain, Director at Conscient Infrastructure Private Limited, said.

The company has delivered over 14,000 homes across Delhi-NCR, Dehradun, and Goa.

The company has a residential/commercial portfolio of nearly 20 million square feet under various stages of development.