US-based real estate firm Hines and local company Conscient Infrastructure have launched the second phase of Elevate, a residential development project in India.

Overall, Elevate Phase II will entail an investment of around $94.26m (Rs7bn).

Go deeper with GlobalData

Premium Insights

The gold standard of business intelligence.

Find out more

Related Company Profiles

View all

The move comes nearly two years after the launch of the first phase of the project. According to Hines, Elevate Phase I was a ‘success’ and recorded sales of more than $121.19m (Rs9bn).

Notably, Hines and Conscient formed a joint venture (JV) in June 2019 to develop Elevate in Sector 59 of Gurgaon near the capital of New Delhi.

Overall, the project will include 556 for-sale apartments.

See Also:

Conscient Infrastructure is developing the project, while Hines is serving as the investment manager and advisor.

How well do you really know your competitors?

Access the most comprehensive Company Profiles on the market, powered by GlobalData. Save hours of research. Gain competitive edge.

Company Profile – free sample

Thank you!

Your download email will arrive shortly

Not ready to buy yet? Download a free sample

We are confident about the unique quality of our Company Profiles. However, we want you to make the most beneficial decision for your business, so we offer a free sample that you can download by submitting the below form

By GlobalData
Visit our Privacy Policy for more information about our services, how we may use, process and share your personal data, including information of your rights in respect of your personal data and how you can unsubscribe from future marketing communications. Our services are intended for corporate subscribers and you warrant that the email address submitted is your corporate email address.

Elevate Phase II will include 248 apartments.

Conscient Infrastructure director Rajesh Jain 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.”

Hines India country head and managing director Amit Diwan 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.”

———————————————————————————————————————

Elevate Phase II will include 248 apartments. Credit: Hines.