ITC Hotels Eyes Branded Luxury Residences as New Growth Avenue; Chennai Project Records 60% Sales

ITC Hotels, one of India’s leading hospitality players, is exploring branded luxury residences as a fresh driver of growth. The company is currently in talks with developers to identify potential projects across both metro cities and leisure destinations. According to Anil Chadha, Managing Director of ITC Hotels, the chain sees strong opportunities in this segment and is even open to standalone branded residential projects.

Industry experts believe the Indian branded residence market is at an early stage but holds immense potential. Data from Noesis Capital Advisors shows that India currently has 16 branded residential projects under development, comprising about 4,000 units. The Delhi NCR region leads the pipeline, followed by Mumbai, Pune, Odisha and Chennai. While India accounts for only eight per cent of the branded residence share in the Asia-Pacific region, rising affluence, strong economic fundamentals and growing aspirations are expected to drive expansion, including in tier-II cities such as Indore and Surat.

Chennai has already emerged as a key market in this space. The Taj Sky View and Residences, being developed on Nelson Manickam Road by AMPA Housing in partnership with Taj Hotels, is progressing on schedule. The project features 253 hotel keys and 123 branded residences. Remarkably, 60 per cent of the premium residences have already been sold, underscoring strong buyer demand. The project is expected to be ready by mid-2027, marking a milestone for both the city and the Tata group-owned hotel chain.

The momentum in branded residences is not limited to ITC Hotels and Taj. Other leading players have also entered the segment. Delhi NCR-based Whiteland Corporation has partnered with Marriott International to launch Westin Residences in Gurugram, while Oberoi Realty has announced branded villas and a luxury hotel in Alibaug alongside its Ritz-Carlton project in Mumbai.

With more hospitality groups tapping this emerging opportunity, branded luxury residences are fast becoming a symbol of aspirational living in India, blending the comfort of premium homes with the prestige of globally recognized hotel brands.