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Whiteland Corporation to invest ₹5,600 crore to develop a branded residences project in Gurugram
Construction cost for the branded residences project in Gurugram to be ₹5600 crore, including land cost; Partners with Marriott to manage the apartments
Delhi-NCR-based real estate firm, Whiteland Corporation, signed an agreement on July 4 with Marriott International Inc to bring Westin Residences to Gurugram and will invest ₹5600 crore to develop the ultra luxury project.
The total investment for the project is estimated to be around ₹5600 crore, which includes construction cost of ₹5000 crore and the land cost of ₹600 crore. The topline of the project is pegged at ₹15,000 crore, the company said.
To be located along Dwarka Expressway in Sector 103, Westin Residences Gurugram, will be the first residential development in India under the Westin brand. This development will also be the largest standalone branded residences project announced in India, the company said.
The first phase, consisting of 674 residences, is set to be launched in the second quarter of the financial year, the company said.
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The project spread across an area of 20 acres, will feature three-and four-bedroom residences ranging from 235 sq m to 386 sq m.
These will be luxury branded residences and the tentative starting ticket price is likely to remain around ₹5 crore and above, depending on the floor and size of the property, the company said.
“We are delighted to sign an agreement with Marriott International to bring Westin Residences to India. The Westin Residences Gurugram, will redefine premium home ownership with exceptional service and attention to detail, offering a prestigious address that will bring pride and joy to its residents,” said Pankaj Pal, Managing Director of Whiteland Corporation.
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"We are delighted to have signed an agreement with Whiteland to introduce the first Westin Residences to India. Their pioneering spirit and unwavering commitment to excellence, combined with Marriott’s global experience in operating branded residences, will set a benchmark in premium living in India and create homes where residents can be the best versions of themselves,” said John Hearns, Senior Vice President, Global Residential Operations, Marriott International.
