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Pioneer Urban Launches ₹3,500 Cr Ultra-Luxury Housing Project in Gurugram
Sentiment: NeutralHigh Priority
What Happened?
Pioneer Urban Land & Infrastructure Ltd has launched an ultra-luxury serviced residences project named Alura in Gurugram, with an investment of over ₹3,500 crore. The project aims for completion by Q2 2031.
Key points
- The Alura project will span 6.99 acres and include around 250 residences across two towers.
- Residences will range from 7,000 sq ft to 15,000 sq ft, featuring duplexes and penthouses.
- The East Tower will rise approximately 200 metres and include private elevator lobbies.
- The project will offer around 1.5 lakh sq ft of club facilities, including a gym, spa, and business centre.
- Alura has received WELL certification and IGBC Platinum pre-certification.
- Completion is targeted for the second quarter of 2031.
Key insights
- The launch of Alura could attract high-net-worth individuals seeking luxury living options.
- The extensive amenities may enhance the appeal of Gurugram as a premium residential destination.
- The project's completion could influence future real estate developments in the region.
Why it matters
This project represents a significant investment in luxury housing in Gurugram, potentially reshaping the local real estate market.
Tags
Entities
Pioneer Urban Land & Infrastructure Ltd· CompanyGurugram· CityAlura· ProjectSkidmore, Owings & Merrill· Organization
Source
Business Standard
