Gurugram-based real estate developer Tulip Infratech will invest ₹1,100 crore to develop a luxury housing project on Southern Peripheral Road (SPR), featuring four residential towers rising to nearly 495 feet, which the company says will be among the tallest residential developments along the corridor, according to a report by the Hindustan Times.

Spread across 7.5 acres, the project, named Tulip Melrose, will comprise 608 apartments, including 10 penthouses. The development will feature four towers of 40 floors each, housing exclusively 5BHK residences with a super built-up area of around 3,250 sq ft. The average price of an apartment is estimated at approximately ₹4 crore, the company said.

A key feature of the project is a grand clubhouse spanning the entire ground floor, connecting all four towers at podium level. The towers will also be linked by a sky terrace at a height of nearly 495 feet, creating a single expansive elevated amenity deck offering recreational facilities and panoramic views of the city, the company said.

The firm will invest ₹1,100 crore to develop a luxury housing project in Gurugram as part of its expansion plans. The company said the raft foundation has already been cast, construction is progressing as scheduled, and the project is expected to be delivered by 2031.

“We will be investing around ₹1,100 crore to develop this project. This excludes land cost,” Tulip Infratech promoter Siddharth Jain told reporters. He said the project would be completed over the next four years.

Commenting on Gurugram’s housing market,Siddharth said demand has moderated compared with the strong momentum seen in 2024. However, he noted that the company continues to receive encouraging interest from both end-users and investors, driven largely by the competitive pricing of its projects.

Parveen Jain, Chairman and Managing Director of Tulip Infratech, said: “Southern Peripheral Road is entering a defining phase of growth and is steadily establishing itself among NCR’s most important luxury residential destinations.”

Tulip Infratech has delivered more than 10 real estate projects in Gurugram. The company is currently developing the luxury housing project Tulip Monsella with an investment of ₹3,600 crore and Tulip Crimson with an investment of ₹1,200 crore. With the launch of its latest project, the Tulip Group’s cumulative investment in Gurugram’s residential market now exceeds ₹6,000 crore, reflecting its continued focus on the city’s premium housing segment.