Gurugram unveils second Trump residential project | Mint

Seven years after the first Trump-branded residence arrived in Gurugram, the city is set to get another splash of glitzy real estate under the US president’s name. 

On Wednesday, Smartworld Developers and Tribeca Developers announced the launch of Trump Residences Gurgaon, a luxury twin-tower project that marks the Trump Organization’s fifth residential outing in India—and its second in Gurugram, often dubbed the Millennium City.

The new development comes amid a boom in India’s luxury housing market and an aggressive wave of high-end launches in Gurugram, long seen as fertile ground for upscale real estate investments. 

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In March, the Trump Organization also announced its entry into India’s commercial real estate market with Trump World Center Pune, a two-tower office complex set to rise in the city’s bustling North Main Road district. Co-developed by Tribeca and local firm Kundan Spaces, the 1.6 million sq. ft. project will span 27 floors of premium office space, marking the Trump brand’s first commercial foray in the country—and its second development in Pune.

The new Gurugram project features the kind of over-the-top flourishes associated with the Trump name globally: double-height living rooms in select units, floor-to-ceiling windows, private elevators, all-glass façades, and a rooftop deck with sweeping views of the Aravalis.

At 51 floors each, the project will house 298 units priced between ₹8 crore and ₹12 crore, along with a limited number of penthouses. The developers are targeting ₹3,500 crore in sales from an overall investment of ₹1,200 crore.

The project will be developed by Smartworld, which was launched in 2021 by the promoters of Gurugram-based M3M Group. Tribeca Developers, the Trump brand’s exclusive India partner, will oversee design, marketing, sales and quality. As with other Trump projects, the Trump Organization will license its brand to the project for a fee, but won’t be directly involved in construction.

The project in Gurugram “will push the boundaries of luxury like never before,” said Eric Trump, executive vice-president of the Trump Organization, in a statement. “I’m confident that Trump Residences Gurgaon will stand among the most iconic and spectacular properties in our global portfolio.”

Tribeca’s founder Kalpesh Mehta noted that Gurugram is now the only city outside North America with two residential Trump projects.

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Besides the new launch, there are four existing residential Trump projects in Pune, Mumbai, Kolkata, and Gurugram. Of the four, the first two—in Pune and Mumbai—have been delivered. The first Trump project in Gurugram is scheduled to be handed over in the coming weeks, while the one in Kolkata will be delivered in the next few months.

Luxury momentum and market signals

The launch comes as demand for luxury and ultra-luxury homes in India has surged post-pandemic. While Mumbai continues to dominate in overall sales, Gurugram has emerged as a luxury hotspot, with developers such as DLF Ltd driving record-breaking pre-sales.

In the December-ended quarter alone, DLF raked in ₹11,816 crore in sales from a single ultra-luxury project—The Dahlias in Gurugram.

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“The initial set of investors in the first Trump project in Gurugram has seen 100% price appreciation,” said Pankaj Bansal, co-founder of Smartworld Developers. “Gurugram is an investor-led market. We’ve priced the new project at ₹27,000 per sq. ft., which we think is just right for our customer base. We expect around 20% participation from NRIs (non-resident Indians), similar to our first Trump project.”

Bansal added that the developers expect to sell at least half the inventory in the first few weeks, aiming to recreate the momentum of the 2018 launch, which moved nearly 100 units within a month even in a slower market.

Still, some analysts caution that parts of Gurugram’s luxury market may be reaching saturation.

“Demand in the Gurugram market has been a little subdued if we go by some of the recent project launches,” said Santhosh Kumar, vice-chairman of Anarock Property Consultants. That said, there’s fairly strong traction for homes in the ₹3-5 crore range, Kumar added.

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In its March analyst call, DLF’s management also warned of a possible flattening in the luxury housing curve, advising buyers and investors to stay cautious and avoid speculative bets.