Delhi–NCR based real estate developer Elan Group has awarded a ₹840 crore construction contract to Tata Projects Ltd for its ultra-luxury residential development Elan–The Statement in Sector 49, Gurugram, according to a Business Standard report.
The construction contract covers the development of Elan–The Statement, a premium housing project with a planned investment of approximately ₹1,600 crore. The large-scale project is spread over nearly six acres and is designed to cater to the high-end segment of the residential market in the National Capital Region (NCR).
The development will comprise five towers, offering ultra-spacious residences with super built-up areas ranging from about 4,285 sq ft to 7,270 sq ft. Each tower will feature premium design elements, and the residences are configured to provide a luxury living experience. The architectural design for the project has been created by globally renowned Benoy, a London-based architectural firm.
Elan Group’s decision to partner with Tata Projects, a major player in India’s construction and infrastructure sector, reflects its focus on quality execution and disciplined delivery for large premium developments. The developer cited Tata Projects’ extensive engineering capabilities and delivery track record as key factors in awarding the contract.
The Elan–The Statement project is located along Sohna Road, with easy access to Golf Course Extension Road and the Southern Peripheral Road, all of which are well-established micro-markets known for strong residential demand and connectivity. Projects in these areas often attract interest from homebuyers seeking premium addresses with accessible infrastructure and lifestyle amenities.
Large residential projects such as Elan–The Statement play a significant role in urban real estate markets by expanding the luxury housing inventory and influencing local property trends. In property markets like Delhi–NCR, ongoing investment and construction activity contribute to broader market momentum and investor confidence.
For homebuyers evaluating property costs and long-term value, understanding total expenditure layers — including pricing, taxes, development costs, and delivery timelines — is essential. Guides such as True Cost of Buying an Apartment in India: Complete Breakdown can help buyers assess the complete financial outlay involved in high-end residential purchases.
Another helpful resource for market context is the Capital Investment in Indian Real Estate Jumps 25% to $14.3B in 2025 report, which highlights broader trends across major cities including Mumbai, Bengaluru, and Delhi-NCR.
Also Read: Embassy Developments to Invest ₹7,000 Crore in Luxury Housing Projects in Mumbai
