Elan Group Awards ₹840 Cr Contract to Tata Projects

• ₹840 crore construction contract awarded to Tata Projects

• Ultra-luxury project spread over nearly six acres in Sector 49, Gurugram

• Five high-rise towers with residences up to 7,270 sq ft

Delhi NCR-based real estate developer Elan Group has awarded a construction contract worth ₹840 crore to Tata Projects for its newly launched ultra-luxury residential development in Sector 49, Gurugram, according to an official announcement on Tuesday.

The project, named Elan–The Statement, is being developed with a total planned investment of around ₹1,600 crore and will span close to six acres. It will comprise five high-rise residential towers offering expansive homes with super areas ranging from approximately 4,285 sq ft to 7,270 sq ft.

Designed by London-based architectural firm Benoy, the development aims to position itself among Gurugram’s premium residential offerings. While the developer has not disclosed the project’s completion timeline or estimated sales value, it stated that the launch has received a strong market response.

Elan–The Statement is strategically located along Sohna Road, with seamless connectivity to Golf Course Extension Road and the Southern Peripheral Road—two of Gurugram’s most sought-after and high-value real estate corridors.

Commenting on the contract award, Elan Group Chairman Rakesh Kapoor said that bringing Tata Projects on board reflects the developer’s commitment to quality, disciplined execution, and long-term value creation. He added that the partnership aligns with Elan Group’s vision of delivering landmark developments in the luxury housing segment.

During the project launch, Elan Group highlighted that property prices in the surrounding region have increased by nearly 74% over the past three years, while rental values have risen by close to 50%, underlining robust demand and long-term appreciation potential.

The Gurugram project is part of Elan Group’s broader expansion strategy in the city. Recently, the developer also announced plans to invest about ₹3,000 crore in another ultra-luxury residential project along the Dwarka Expressway.

Elan Group currently has a portfolio of 15 projects across Gurugram and New Delhi, with a cumulative built-up area of approximately 25 million square feet, reinforcing its growing presence in the NCR real estate market.