(NEW DELHI, INDIA) - Phase II of Elevate, a joint residential development by Hines, the international real estate firm, and Conscient Infrastructure Pvt. Ltd., a trusted name in the real estate industry in India, has been recently launched. The total cost involved on this project is Rs. 1500 crore out of which 55% has been spent on Phase I (approx. Rs. 800 crores) and about 45% is dedicated to Phase II, that is approx. Rs. 700 crores.
The first phase of the project, which was launched in June 2019, has been a success clocking a sale of over Rs. 900 Crores. Phase 2 of the project has witnessed immediate traction with homebuyers from NCR showing keen interest.
Hines and Conscient announced a JV to develop Elevate in June 2019. The premium project is Hines’s first residential venture in India. Conscient Infrastructure is the developer for the project while Hines is the investment manager and advisor. Despite the pandemic, the construction of Elevate is in full swing. The sample apartment and the sales gallery of the project opened their doors to customers earlier this year. The thoughtfully designed Elevate Sales Gallery is one of its kind and gives customers a feel of the project making it one of the most visited sales galleries in NCR
Phase II of Elevate will offer 248 apartments. Customers can choose from 3Bedroom, 3Bedroom + Powder Room and 3Bedroom + Powder Room and a Study. The apartments have premium specifications and have been designed to offer a luxury lifestyle.
Rajesh Jain, Director, Conscient Infrastructure Pvt. Ltd., said, “Elevate is a landmark project for us, redefining lifestyle living with its international design, panoramic views and luxury amenities. The customer response to the project has been very positive and we have exceeded our sales target for phase I. The rapidly changing lifestyles and work from home brought about by the pandemic have made owning a home with all modern amenities more important than ever.”
Amit Diwan, Managing Director & India Country Head, Hines, said, “The enthusiastic response to phase I of Elevate reiterates our belief that customers in India are seeking international standard residential projects. Elevate aims to offer not just ‘comfortable homes’ but a ‘complete lifestyle’ to our buyers. The apartments have been designed to meet all the aspects of our customers’ needs, be it aesthetics, luxury, comfort or convenience.”
Designed by Ricardo E. Bofill, Principal Chief Designer, RBTA, Elevate offers high-end amenities, carefully curated taking into account every detail, to give a unique lifestyle experience to the residents. The project is conveniently located in an exclusive enclave on Golf Course Extension Road, in Sector 59 and is being constructed by TATA Projects.
Monish Krishna, Managing Director - Development, Hines, said, “Elevate is a differentiated, high-quality development that will redefine residential real estate in India. The project has been designed to address the gaps in the local micro-market while providing a complete lifestyle to our customers.”
Elevate is being constructed with the end-users and the long-term investors who continue to see merit and value in quality real estate as an asset class in mind. This segment of customers responds to good investment opportunities and is largely immune to short term market fluctuations.
Founded in the year 1975, Conscient Infrastructure Pvt. Ltd. deals in luxury residential properties and commercial properties across India. The company’s operations span all aspects of real estate development, ranging from identification and acquisition of land, planning, execution, and marketing of the projects to maintenance and management of completed developments. The company is known for on-time delivery, high quality products and reliability. One of the most trusted and highly regarded developers, Conscient is the name behind some of the most distinguished residential projects in the country.
Hines is a privately owned global real estate investment, development and management firm, founded in 1957, with a presence in 240 cities in 27 countries and $160.9 billion¹ of assets under management—$81.7 billion² in assets for which Hines serves as investment manager and $79.2 billion³ representing more than 172.9 million square feet of assets for which Hines provides third-party property-level services. The firm has 181 developments currently underway around the world, and historically, has developed, redeveloped or acquired 1,450 properties, totaling over 485 million square feet. The firm’s current property and asset management portfolio includes 622 properties, representing over 256 million square feet. With extensive experience in investments across the risk spectrum and all property types, and a pioneering commitment to sustainability, Hines is one of the largest and most respected real estate organizations in the world.
Visit www.hines.com for more information.
¹AUM includes both the global Hines organization as well as RIA AUM.