Mumbai, the bustling financial capital of India, is witnessing a significant shift in the real estate landscape as Shreeram Group makes its foray into the luxury segment. The Gujarat-based conglomerate, known for its industrial and edible salt manufacturing and exporting, has announced an investment of ₹500 crore in a luxury residential project named The Falcon, developed in partnership with Dalcore. This project is set to redefine luxury living in Gurgaon, one of the fastest-growing urban hubs in the country.
The Falcon is a collaboration with YOO, a prestigious global design and lifestyle brand founded by the renowned Philippe Starck and John Hitchcox. This partnership will bring a unique blend of aesthetics and functionality, positioning The Falcon as a landmark in Sector 53, Golf Course Road, Gurgaon. Spanning approximately 2 acres, this single tower will feature around 96 luxury residences, comprising 3 BHK and 4 BHK apartments. The pricing for these exclusive homes is set to start at ₹10 crore and above, reflecting the high-end market segment the project aims to cater to.
This venture marks YOO's first project in North India, adding to their existing portfolio of five projects across cities like Pune and Hyderabad. Dalcore's Managing Director, Sidharth Chowdhry, emphasized the significance of this collaboration, stating, "By joining hands with one of the world's most celebrated design powerhouses, we aim to introduce a new language of lifestyle and design to Gurgaon." He further highlighted the project's prime location on Golf Course Road, which offers exceptional connectivity and a robust social infrastructure, making it an ideal choice for discerning homebuyers.
With a remarkable portfolio that includes over 30 residential projects worldwide, YOO has made a name for itself with developments like Sky Oasis in Macau and Icon Brickell in Miami. The demand for branded residential projects in India is on the rise, with research from Knight Frank ranking the country sixth globally in this sector. It is projected that the number of branded residence projects in India could witness a substantial increase of nearly 60% by 2027, particularly in Tier-1 cities such as NCR, Mumbai, and Bengaluru. This trend underscores the growing appetite for luxury living among affluent buyers in the country, making The Falcon a timely and strategic investment for Shreeram Group.
As the real estate market continues to evolve, Shreeram Group's entry into this segment not only enhances its portfolio but also contributes to the burgeoning luxury real estate scene in Gurgaon, setting a new standard for high-end living in the region.