Sumadhura Eyes Rs 2,500-Cr Revenue Via Palais Royale

The performance of the real estate sector in 2024 hints at a transformation not in scale but in the quality of offerings and showcases the need for continued investor interest in the growing real estate market in India -- Ramani Sastri, Chairman & MD, Sterling Developers

Hyderabad: Sumadhura Group, a real estate player in South India announced its new project, Palais Royale, uber luxury apartments in Hyderabad with an estimated revenue potential of Rs 2,500 crore. The project is likely to be handed over in December 2029.

Coming up near Financial District, Palais Royale is connected to major business hubs, entertainment zones, and lifestyle destinations. It will be spread across 7.35 acres of land parcel with a saleable area of 2.6 million sft. The project will have 52-storeyed high-rise tower spread across three wings composing 523 units of four and five bed residences, and will include five levels of basement parking.

The gated community will have amenities like an 85,000 sft floating clubhouse with over 85 per cent landscape area, and cutting-edge luxury tech integrations. The clubhouse will also have leisure facilities, wellness zones, and bespoke services, an official press release from the developer said.

“Hyderabad’s real estate market has undergone a transformation with the market trend shifting towards high-rise luxury and ultra-luxury properties. This shift assumes significance today, owing to a heightened demand from the UHNIs, HNIs and NRIs. Catering to home buyers’ preferences, Sumadhura’s Palais Royale will bring in some of the unique elements, intertwining nature and technology,” said Madhusudhan G, Chairman and Managing Director, Sumadhura Group.

Citing a recent report released by CBRE, the CMD said that in Hyderabad’s residential market, the premium (Rs 2 crore to Rs 4 crore) and luxury (Rs 4 crore and above) segments, accounting for less than five per cent of overall launches until 2021, have grown to over 20 per cent of Hyderabad’s total launches in 2023, and the first half of 2024.

This trend demonstrates a growing shift towards high-end properties driven by higher disposable income and changing buyers preferences, he added.