Emaar India to invest ₹400 crore to develop a housing project in Lucknow
Emaar India, the Indian business entity of the Dubai-based Emaar Properties, said on June 2 that it will invest ₹400 crore to develop its first premium high-rise housing project, 'Elite Oasis', at Gomti Nagar Extension in Lucknow.
The project, spread over 2.923 acres, will have 194 units. The price range is ₹2.75 crore to ₹4.15 crore.
"The total investment for the project is ₹400 crore and the expected revenue is ₹650 crore," the company said in a statement.
Elite Oasis will overlook Gomti Greens on one side and the Gomti River on the other, it said. The project will have a modern clubhouse with 2870 sq m (30,892 sq. ft.) of built-up area.
The project offers a wide range of residential units, 3BHK + U and 4BHK + U (two types), catering to the needs of all those who aspire for premium living. The price range for 3BHK units will be between ₹2.75 to 2.90 crore and for 4BHK units between ₹3.87 to 4.15 crore, the company said.
Elite Oasis is located 17.7 km from the Lucknow airport and 10.2 km from Gomti Nagar railway station.
"We are excited to announce the launch of 'Elite Oasis'. This project stands as a testament to Emaar's unwavering commitment to providing high-quality living spaces that align with our customers' needs and uphold the highest design standards. In Lucknow, Emaar is going to utilize this expertise to launch our first group housing project for the people of Lucknow, who are aspiring for a world-class lifestyle,' said Kalyan Chakrabarti, CEO, Emaar India.
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