Adore Group Invests ₹800 Crore in Luxury Faridabad Residential Project
Delhi-NCR-based Adore Group has launched The Select Premia, a ₹800 crore ultra-luxury residential project in Faridabad’s Sector 76, targeting affluent buyers amid rising demand for spacious, high-end living spaces. This follows the company’s acquisition of a 5.47-acre HSVP-allotted land parcel through auctions in 2023.
Project Overview
Adore’s development covers 5.47 acres and offers 190 4BHK apartments with servant quarters, positioned in a bustling area with commercial towers, retail hubs, and metro connectivity. This project is Adore’s latest addition to its portfolio of over 20 ongoing projects and 17 completed developments, primarily in Faridabad and Gurugram.
Targeting High-Net-Worth Demographics
Adore aims to cater to three key buyer segments:
- Family business scions seeking luxury residences
- Self-made entrepreneurs prioritizing exclusivity
- Corporate C-suite executives valuing convenience and status
The focus reflects post-pandemic preferences for larger homes with curated amenities, leveraging Faridabad’s growth driven by its thriving IT and manufacturing sectors.
Economic Drivers and Market Context
Faridabad’s real estate boom aligns with Delhi-NCR’s 63% YoY sales surge to ₹1.53 lakh crore in 2024, according to PropEquity data. The project benefits from:
- The upcoming metro line and highways will improve communication and link neighbouring cities.
- Growing IT hubs and corporate offices attract both professionals and families.
- Diversifying income streams beyond traditional markets
Competitive Landscape
Adore faces competition from established players like Omaxe and Bhumika, which are also expanding in Faridabad. However, The Select Premia differentiates itself through its focus on ultra-luxury segments rather than mid-tier developments.
Outlook and Impact
With construction costs and land comprising the ₹800 crore investment, the project highlights growing investor confidence in Faridabad’s premium housing market. Jetaish Gupta of Adore Group remarked, ‘The city’s evolving economy positions it as an emerging hub for exclusive residential communities.’
The project’s success could catalyze further high-end developments in the region, reinforcing Faridabad’s status as a critical driver of Delhi-NCR’s real estate growth.