en.Wedoany.com Reported - India's Tulip Infratech plans to invest INR 11 billion in a luxury residential project named Tulip Melrose on the Southern Peripheral Road (SPR) in Gurugram. The project comprises four residential towers approximately 495 feet tall, making it one of the tallest residential developments along this corridor. Spanning 7.5 acres, the project offers a total of 608 apartments, including 10 penthouses. Four 40-story towers, all featuring 5BHK layouts, will be constructed, with super built-up areas of approximately 3,250 square feet and an average apartment price of around INR 40 million. A key feature is a luxury clubhouse covering the entire ground floor, connecting all four towers at the podium level. The company stated that the towers will also be linked by a sky deck at a height of approximately 495 feet, forming an elevated amenity platform encompassing leisure facilities and panoramic city views.
Tulip Infratech promoter Siddharth Jain stated that the company is investing approximately INR 11 billion in the project, an amount that excludes land costs. The raft foundation has already been poured, and construction is progressing as planned, with delivery expected in 2031. Commenting on the Gurugram residential market, Siddharth Jain noted that while demand has slowed compared to the strong momentum seen in 2024, the company has received encouraging interest from both end-users and investors, primarily attributed to the project's competitive pricing. Tulip Infratech Chairman and Managing Director Parveen Jain stated that the Southern Peripheral Road is entering a decisive growth phase and is steadily establishing itself as one of the most important luxury residential destinations in the NCR region.
Tulip Infratech has delivered over 10 real estate projects in Gurugram. The company is currently developing the luxury residential project Tulip Monsella, with an investment of INR 36 billion, and Tulip Crimson, with an investment of INR 12 billion. With the launch of this latest project, the Tulip Group's cumulative investment in the Gurugram residential market has exceeded INR 60 billion, reflecting the company's continued commitment to the city's high-end residential segment.
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