Mingtiandi

Asia Pacific real estate investment news and information

  • Facebook
  • LinkedIn
  • RSS
  • Twitter
Remember Me

Lost your password?

Register Now

Loading...
  • Capital Markets
  • Events
    • Mingtiandi 2025 Event Calendar
    • Mingtiandi APAC Residential Forum 2025
    • Mingtiandi Singapore Forum 2025
    • Mingtiandi APAC Logistics Forum 2025
    • Mingtiandi APAC Data Centre Forum 2025
    • Mingtiandi Tokyo Forum 2025
    • More Events
  • MTD TV
    • Residential
    • Logistics
    • Data Centre
    • Office
    • Singapore
    • Tokyo
    • Hong Kong
    • All Videos
    • Post-Event Stories
  • People
    • Industry Moves
    • MTD TV Speakers
  • Logistics
  • Data Centres
  • Asia Outbound
  • Retail
  • Research & Policy
  • Advertise

Hines Starts Work on Second Phase of $202M India Residential Project

2021/08/15 by Christopher Caillavet Leave a Comment

Hines began the second phase of its first residential project in India

US developer Hines has begun the second phase of its first residential project in India, bringing total investment in the Elevate luxury apartments in Gurugram to INR 1,500 crore ($202 million).

Hines and local partner Conscient Infrastructure spent INR 800 crore on Phase I of the joint venture announced in June 2019 and have since recorded sales of more than INR 900 crore at the under-construction complex, Houston-based Hines said in a press release.

The premium project in the IT hub southwest of New Delhi adds to the firm’s existing portfolio of commercial properties in key Indian cities. Construction is scheduled for completion in the third quarter of 2023.

“The enthusiastic response to Phase I of Elevate reiterates our belief that customers in India are seeking international-standard residential projects,” said Amit Diwan, managing director and India country head at Hines, which serves as the investment manager and advisor for Elevate.

Filling a Luxury Niche

Phase II of Elevate will offer 248 for-sale apartments out of the 556 planned for the project, which sits within an exclusive enclave on Golf Course Extension Road in Gurugram’s Sector 59, a residential and commercial area near the International Tech Park Gurgaon developed by Singapore’s CapitaLand.

Amit Diwan - Hines India

Amit Diwan, managing director and India country head at Hines

Designed by Spanish architect Ricardo Bofill, with Indian contractor Tata Projects handling construction duties, Elevate has been designed to address gaps in the local market while providing a “complete lifestyle” to buyers, said Monish Krishna, managing director for development at Hines.

The latest phase offers three-bedroom apartments, with some units adding a powder room and a study. On-site amenities include underground parking; a British-style clubhouse with social lounge, poolside leisure and fine dining; and a gym with a temperature-controlled lap pool and multiple wellness activities.

Conscient director Rajesh Jain said the changing lifestyles and work-from-home trend brought about by the COVID-19 pandemic have made owning a home with modern conveniences more important than ever.

“Elevate is a landmark project for us, redefining lifestyle living with its international design, panoramic views and luxury amenities,” Jain said.

Gurugram-based Conscient deals in luxury residential and commercial properties across India, including land acquisition, development, marketing and management of completed projects.

Countrywide Expansion

In addition to the maiden residential project, Hines’s other Gurugram ventures include the One Horizon Center and Atrium Place commercial properties, both under development with Indian real estate giant DLF. Hines also serves as development manager for Altitude, a 20-storey office tower in Bangalore.

In June, the US developer announced its first foray into one of India’s fastest-growing office markets with the construction of a 43 acre (17 hectare) IT park in the city of Pune, east of Mumbai.

In partnership with landowner Goel Ganga Corporation, Hines is developing a site spanning nearly 7 million square feet (650,321 square metres) in the tech-focused Pune suburb of Kharadi, with 2.4 million square feet of office space planned for the first phase.

Founded in 1957, privately held Hines has $160.9 billion in assets under management — including over $1.8 billion in India — and 181 developments currently underway worldwide.

Share this now

  • LinkedIn
  • Share
  • Tweet
  • Email

Filed Under: Projects Tagged With: daily-sp, Featured, Gurgaon, Gurugram, Hines, India

Leave a Reply

Your email address will not be published. Required fields are marked *

Get Mingtiandi Delivered

  • This field is for validation purposes and should be left unchanged.

MTD TV

Stuart Gibson ESR
ESR’s Gibson Sees Strong Fundamentals, Capital Markets Boosting Japan Strategies: MTD TV
Multi-Family Investment in Japan Thumbnail
Japan’s Multi-Family Market Still Has Room to Run After Banner Year: MTD TV

More MTD TV Videos>>

People in the News

Brian Oravec RealTerm
Asia Real Estate People in the News 2026-07-28
Link executive director and group chief executive officer George Hongchoy
Link CEO George Hongchoy to Retire After 16 Years at Asia’s Biggest REIT
Shangri-La Group chairwoman Kuok Hui Kwong
Tycoon Robert Kuok’s Daughter Named CEO of Shangri-La
https://www.linkedin.com/in/anthony-bolger-72817322/
Asia Real Estate People in the News 2025-07-21

More Industry Professionals>>

Latest Stories

Serena Teo Capitaland
CapitaLand Ascott Trust Selling Central Tokyo Hotel to Mizuho Leasing for $166M
Yao Changlin of Joy City
Joy City Property Eyes $370M Share Buyback in Bid to Privatise Mainland Builder
Yebisu Garden Place
Bain, KKR, PAG Prep Bids for $2.7B Sapporo Property Sale and More Asia Real Estate News

Sponsored Features

Fiona Ngan, Colliers Hong Kong
In a Market of Caution, Tenants Have The Upper Hand in Hong Kong’s Office Sector
How to Create a Win-Win for Investors and Occupiers
Lingeage Logistics Cold Storage Complex
Mount Maunganui Cold Storage Facility for Sale

More Sponsored Features>>

Connect with Mingtiandi

  • Facebook
  • LinkedIn
  • RSS
  • Twitter

Real Estate News

  • Capital Markets
  • Mingtiandi 2025 Event Calendar
  • MTD TV Archives
  • People
  • Logistics
  • Data Centres
  • Asia Outbound
  • Retail

More Mingtiandi

  • About Mingtiandi
  • Contact Mingtiandi
  • Mingtiandi Memberships
  • Newsletter Subscription
  • Advertise
  • Terms of Use
  • Privacy
  • Join the Mingtiandi Team


© 2007-2025 China Advertising Media Ltd (Samoa). All rights reserved.

We use cookies in accordance with our Privacy policy to provide the best user experience on Mingtiandi and to safeguard user data. By continuing to browse you consent to the policy.