The NCR-based real estate company 3C, has tied up with global super luxury hospitality company Four Seasons Hotels and Resorts for management of its 300 key hotels and 180 branded luxury residential apartments.
The concept of branded luxury homes is catching up in the country. Prior to 3C, companies like Supertech, Nitesh Group and Ireo have tied up with JW Marriott, Ritz Carlton and Grand Hyatt.
Chris Hart, president, hotel operations, Asia Pacific, Four Seasons, said the company sees huge growth potential in India as it expands. So far, the group has one operational property in Mumbai. It has a project in Bangalore also, which is likely to be completed in 2015. Four Seasons is looking at four projects in India—NCR, Mumbai, Banagalore and Goa.
The Number Game
"We will be selling NCR residences by invitation at Rs 22,000-26,000 per sqft. The size of a flat is about 7,500 sqft," Vidur Bhardwaj, director at 3C, said.
The project will be completed by 2016 and it has already received all approvals from authorities. Each flat will cost around Rs 18 crore.
The project is located in Noida. Hart said the current economic slowdown in India will not influence its decisions as it looks at the country with a long term perspective.