New Delhi, January 21
Buyer interest and investor activity have returned to Trump Tower residential projects in India. Sources said there is active interest for these super-premium projects in places like Delhi–NCR, where current projects are already sold-out.
In fact, at least six additional high end projects are expected in the country over the next few years, making India among the countries to have the largest Trump Towers.
Donald Trump Junior — the US President’s son — is expected to visit India later this year to launch the Trump Tower projects in India. The upcoming projects are scouted in Noida, Hyderabad, Bengaluru, Pune, Mumbai and Gurugram, say sources.
Pune will also host the first Trump Office — a commercial complex. .
If the upcoming projects materialise, the combined floor area for Trump-branded projects in India will reach around 8 million sq ft with a potential sale value of ₹15,000 crore.
“There is significant demand for more residences, particularly in Delhi NCR. Despite the existing project being sold out, we continue to receive numerous inquiries from buyers expressing interest,” Rajat Khandelwal, Group CEO, Tribeca Developers, the exclusive partner for Trump Towers in India, told businessline.
At present, there are four Trump Tower projects in the country, that include one each in Mumbai, Gurugram, Pune and Kolkata. These projects were licenses before Donald Trump’s presidency in 2017, through agreements with various developers like Lodha, M3M Panchshil Realty and Unimark Group .
The four projects have a combined space of 3 million sq ft, around 800 luxury residencies and a sale value of close to ₹7,500 crore. Apartments are priced between ₹6 crore and ₹25 crore.
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Khandelwal said, for the Delhi NCR project, the company has applied for the Occupancy Certificate (OC) and is “expecting approval shortly”. “The residences will be ready for handover to customers within the next few months,” he said.
For the Kolkata project, Khandelwal said, the facade is completed, and finishing work is on-going. The residences are on track for handover to buyers this year. “Both projects are in advanced stages of construction,” he added.