Paras Buildtech to invest around Rs 500 cr to build luxury housing project in Gurugram

New Delhi: Realty firm Paras Buildtech will invest around Rs 500 crore to develop a luxury housing project in Gurugram as part of its expansion plan amid strong demand.

In a statement on Monday, the company said it has launched a super-luxury project, "The Manor," at Gwal Pahari in Gurugram.

The company will develop 120 apartments in this 4.26 acre project.

"We are launching a new ultra luxury project in Gurugram. The price of each apartment will be around Rs 9 crore," Kunal Rishi, COO of Paras Buildtech, said.

The company is expecting a total revenue (topline) of Rs 1,200 crore from this launch with an investment of Rs 490 crore in this project.

The size of an apartment is 4,750 square feet.

The project is expected to be delivered by August 2028.

"Gwal Pahari has undoubtedly emerged as a preferred choice for homebuyers in Delhi NCR. Its unparalleled strategic location offers seamless logistical connectivity between Delhi and Gurugram," Rishi said.

Paras Buildtech has delivered 15 million square feet of retail, commercial, and residential spaces.