India, June 2 -- Emaar India, the Indian business entity of the Dubai-based Emaar Properties, said on June 2 that it will invest Rs.400 crore to develop its first premium high-rise housing project, 'Elite Oasis', at Gomti Nagar Extension in Lucknow.

The project, spread over 2.923 acres, will have 194 units. The price range is Rs.2.75 crore to Rs.4.15 crore.

"The total investment for the project is Rs.400 crore and the expected revenue is Rs.650 crore," the company said in a statement.

Elite Oasis will overlook Gomti Greens on one side and the Gomti River on the other, it said. The project will have a modern clubhouse with 2870 sq m (30,892 sq. ft.) of built-up area.

The project offers a wide range of residential units, 3BHK + U and 4B...