Mumbai-based Tribeca Developers and Hyderabad-based Ira Realty are set to develop a Vaastu-compliant Trump-branded luxury housing project in Hyderabad, marking the Trump brand’s first entry into South India. Located on Golden Mile Road in Kokapet, the project will involve a total investment of around ₹2,000 crore, including land costs.
“The first project in South India is different because the apartments had to be Vastu-compliant. It took us about a year to get it right,” said Kalpesh Mehta, founder of Tribeca Developers, which brought the Trump brand to India in 2014.
These 65-storey towers aim to be South India’s tallest
The two Trump-branded towers in Hyderabad are set to rise 240 metres, with Tribeca Developers claiming they will be the tallest residential towers in South India. The tallest Trump tower is in Mumbai at 78 storeys.
Located on Golden Mile Road in Kokapet, the Hyderabad project will comprise two 65-storey towers with 450 apartments, including 16 penthouses, spread across a developable area of 22 lakh sq ft. The towers will be connected by a bridge, while each residence will have independent views.
The project will offer 3.5- and 4-BHK apartments, with sizes ranging from 3,600 sq ft to 5,800 sq ft. Each apartment will have a private lift and an exclusive lobby, without sharing the lobby with neighbouring residences. The towers will feature an all-glass facade, the developers told reporters in Hyderabad.
{{/usCountry}}The project will offer 3.5- and 4-BHK apartments, with sizes ranging from 3,600 sq ft to 5,800 sq ft. Each apartment will have a private lift and an exclusive lobby, without sharing the lobby with neighbouring residences. The towers will feature an all-glass facade, the developers told reporters in Hyderabad.
{{/usCountry}}Prices will range from ₹5 crore to ₹18 crore. The project will also include duplex residences of around 12,000 sq ft and penthouses of up to 30,000 sq ft. Around 120 apartments will feature double-height spaces and are expected to be priced at ₹8 crore to ₹10 crore.
The project received its RERA registration around two weeks ago and is expected to take five years to complete.
₹2,000 crore investment
Kalpesh Mehta said the company will invest around ₹1,700 crore to ₹1,800 crore in the project, excluding land costs. The land is valued at around ₹250 crore at current market rates.
The developers expect sales realisation of ₹3,500 crore to ₹4,200 crore, with apartment prices starting at ₹5 crore.
The project has already received an encouraging response, with eight penthouses sold for around ₹250 crore. One penthouse, comprising eight apartments, was sold for ₹62 crore. A family purchased the units and combined them into a single residence, the developers said.
Around 25%-30% of demand is expected to come from NRI buyers, primarily from the US, Mehta said.
More luxury projects in the pipeline
Tribeca is exploring a super-luxury farmhouse and resort project in Hyderabad and could also consider Chennai for a future development in South India, Mehta said.
The company may launch three to four more Trump-branded projects over the next three years, alongside four to six projects under the Tribeca banner.
Tribeca Developers is the official representative of the Trump brand in India. The Hyderabad project is the eighth Trump-branded project announced in India and the first in South India. Of the eight Trump-branded projects announced so far, four have been completed in Pune, Mumbai, Kolkata and Gurugram. Projects have also been launched in Noida.
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“Since then, we have launched projects in Mumbai, Pune, Gurugram, Noida and Kolkata, but we have not yet penetrated South India, and that changes today. Hyderabad has been on our radar for a very long time,” Mehta said.
Impact on sales due to the India-US relations
About any possible impact on sales due to current India-US relations, he said, "Trump has been in India much before the politics and has stayed throughout, and there we've seen no impact of anything beyond what the product stands for and what the brand stands for"
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"We have seen no impact of anything really," he added.
Eric Trump, Executive Vice President of The Trump Organization, said: "India continues to be one of the world's most exciting luxury real estate markets, and we are delighted to bring the Trump brand to Hyderabad for the first time. We are excited to collaborate once again with Tribeca".
Narsi Reddy, Founder and Managing Director of Ira Realty, said, "We assembled this land over many years...we wanted a brand that needs no introduction anywhere in the world, and a developer who has proven, in city after city in India, that it can deliver at that standard".
Tribeca Developers has 13 projects covering 14 million square feet. It is the largest developer of Trump-branded properties in the world. Founded in 2019, Ira Realty is a real estate developer focused on luxury residential, commercial and township developments. The company has developed 15 projects in Hyderabad, delivered over 5 million sq ft, and currently has more than 20 million sq ft under development.