At Rs 500 Crore, This Ultra-Luxury Apartment Will Be India’s Costliest | Real Estate News

Sunteck Realty is a significant player in the real estate sector with 32 completed projects spanning 52.5 million square feet. (Image: SunteckRealty)

The country’s luxury housing segment is witnessing an unprecedented surge, with developers increasingly focusing on ultra-premium residences. After Gurugram’s DLF Camellias made headlines with apartments priced at Rs 100 crore each, a Mumbai-based developer has now raised the bar, announcing India’s costliest apartment at a staggering Rs 500 crore.

The ultra-luxury residential project is being developed by Sunteck Realty, which has unveiled plans to launch two high-end ventures, one in Mumbai and the other in Dubai. Both will be branded under the new global name, ‘Emans’, with residences aimed squarely at ultra-high net worth individuals.

Kamal Khaitan, Chairman and Managing Director of Sunteck Realty, said the company is foraying into the top-tier housing market with a new identity. “We are entering the ultra-luxury residential project segment and creating a new brand, Emans, that will establish itself globally,” he said.

According to Khaitan, the Mumbai project will come up on the prestigious Nepeansea Road, while the Dubai project will be located in Downtown Dubai, in the vicinity of the iconic Burj Khalifa.

The launch of both projects is slated for June 2026, with an estimated development cost of around Rs 20,000 crore. Prices in these residences are expected to scale up to Rs 2.5 lakh per square foot, making them among the costliest homes in the world.

Sunteck Realty, already a significant player in the real estate sector with 32 completed projects spanning 52.5 million square feet, has reported robust earnings this year. Its net profit in the first quarter rose 47% year-on-year to Rs 334.3 million, up from Rs 227.8 million. However, the company’s total revenue declined sharply to Rs 201 million from Rs 328 million in the same period last year.