Tulip Infratech has launched Tulip Melrose, a 7.5-acre luxury residential project on Southern Peripheral Road with a planned investment of ₹1,100 crore. According to reports from The Economic Times, the project is expected to generate sales realisations of around ₹2,700 crore and will comprise four towers housing 608 five-bedroom apartments spread across 1.95 million square feet of built-up area. The pricing will start from ₹6 crore, representing a significant increase from the earlier ₹4 crore pricing, as confirmed by Siddharth Jain, Director of Tulip Infratech. The project will be constructed over the next four years and has already been launched for sale.
The project will feature four residential towers of approximately 495 feet, making it one of the tallest developments in the SPR belt, as reported by The Economic Times. Parveen Jain, Chairman & Managing Director of Tulip Infratech, stated that Southern Peripheral Road is entering a defining phase of growth and is steadily establishing itself among NCR's most important luxury residential destinations. Despite the current market slowdown compared to 2024 levels, Jain noted that the company has been receiving good response from both end-users and investors due to the competitive pricing strategy.
The company has also committed ₹1,200 crore towards another residential project on SPR, Tulip Crimson, expecting another ₹3,000 crore as gross development value (GDV). As reported by The Economic Times, the development pipeline includes an ongoing 19.5-acre mixed-use development on Golf Course Road, involving an investment of ₹3,600 crore. According to Jain, the company expects a combined gross development value of about ₹12,000 crore from the three projects currently under development. Tulip Infratech has completed more than 10 real estate projects in Gurugram and is currently developing luxury housing project Tulip Monsella with an investment of ₹3,600 crore.
