Mumbai: Real estate developer Smartworld Developers has awarded a construction contract worth about ₹1,000 crore for its residential project Trump Residences Gurgaon, the company said.
The project site excavation has been completed, and structural construction work has commenced, the developer said, adding that a ₹300 crore tender has already been released as part of the phased construction plan.
The project, located in Sector 69, Gurugram, is being developed on about 11.7 acres and will comprise two residential towers with 51 floors each, housing 298 apartments.
According to the company, the project will have a total built-up area of over 1.2 million square feet and is positioned in the branded luxury residential segment in the National Capital Region.
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This will be the second residential project in Gurugram associated with the Trump brand, after Trump Towers Gurugram, which has seen price appreciation since its launch.
Smartworld Developers said prices at Trump Residences Gurgaon increased from about ₹25,000 per square foot at launch to around ₹32,000 per square foot within six months, reflecting strong demand in the luxury housing segment.
Commenting on the construction progress, Surender Kumar Sharma, Chief Construction Officer at Smartworld Developers, said the beginning of structural work marks an important phase in the project’s development.
“Excavation at the site has been completed and structural construction has now commenced. The project will be developed in phases in line with planned construction schedules and timelines,” Sharma said.
The developer said the project recorded strong demand at launch and reported sales of around ₹3,250 crore.
According to the company, homeowners at the development will receive club hospitality and facility management services by Roseate Hotels & Resorts.
Smartworld Developers said it reported ₹6,400 crore in sales in FY2024-25, registering about 60 per cent growth year-on-year.
The company has committed a construction outlay of around ₹10,000 crore, of which about ₹5,000 crore worth of contracts have already been awarded since its inception.
Smartworld Developers currently has multiple residential projects in Gurugram, including developments along Golf Course Extension Road and Dwarka Expressway.
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The developer recently announced its entry into the Noida residential market with the launch of Elie Saab Residences, a project spread across about six acres with around 200 apartments.
Trump Residences Gurgaon is being developed by Smartworld Developers in collaboration with Tribeca Developers, which represents the Trump brand in India.
