Realty firmÂ M3M IndiaÂ on Thursday said it has sold 20 luxury apartments worth Rs 1.5 billion (Rs 150 crore) under theÂ Trump TowersÂ project in Gurgaon within a day of its launch.
The company is targeting Rs 25 billion (Rs 2,500 crore) from the sale of 250 units in this project, which was launched on Wednesday.
Global realty brand 'Trump Towers' made its debut in North India throughÂ real estateÂ firmsÂ M3M IndiaÂ andÂ Tribeca Developers.
M3M IndiaÂ is developing this project 'Trump TowersÂ Delhi NCR' at an investment of Rs 12 billion (Rs 1,200 crore), excluding land cost. Tribeca has got the exclusive right to market this project, while TheÂ Trump OrganizationÂ has lent the Trump brand.
"We have recorded sales of Rs 1.5 billion on the first day of launching the iconicÂ Trump TowersÂ in Gurgaon,"Â M3M IndiaÂ DirectorÂ Pankaj BansalÂ said in a statement.
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The company sold 20 super luxury homes on Wednesday.
M3M and Tribeca will develop 250 ultra-luxury residences under a brand licence from The Trump Organization, which is currently led byÂ Donald TrumpÂ Jr, son of USÂ PresidentÂ Donald Trump.
The project offers 250 ultra-luxury residences with initial price ranging from Rs 50 million (Rs 5 crore) to Rs 100 million (Rs 10 crore).
The construction work of the towers, each around 50 floors and over 600 ft facing golf course, will start in March and the project will be completed in 5 years.
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M3M IndiaÂ has a land bank of 2,200 acres in and around Gurgaon. It has already completed 8 projects and is currently developing 12 projects.