In Delhi, Omaxe’s story now runs between two very different addresses. One is Chandni Chowk, the 400-year-old marketplace where the group redeveloped a stretch of Old Delhi under a public-private partnership.
The other is Dwarka, where its 50.4-acre Omaxe State is coming up with a 158-key Gateway Hotel by IHCL at its centre. Between them sits the shift Managing Director Mohit Goel is now betting the company on — from building homes and malls to building destinations, backed by a fresh ₹6,200 crore push into hospitality.
Goel told Business Outreach in an interview that this shift has been years in the making. He took over the leadership mantle of the 1987-founded group from his father, Rohtas Goel, and has spent over 13 years steering Omaxe through what he calls a period of “prolonged headwinds” in the real estate sector, contributing to structural changes that strengthened the company’s long-term direction while staying anchored to its core values.
Chandni Chowk Redevelopment: How Omaxe Balanced Heritage with Modern Infrastructure
Chandni Chowk is where that destination-building instinct was first tested at scale. Describing the challenge of building in a 400-year-old marketplace, Goel said, “The biggest challenge was creating modern infrastructure while preserving the heritage and character of one of India’s oldest marketplaces.”
Every design call, he said, “had to respect the historical significance of the precinct while addressing practical issues such as congestion, accessibility, safety and operational efficiency,” since “the objective was never to replace the identity of Chandni Chowk but to create infrastructure that supports traders, visitors and businesses without compromising its cultural legacy.”
Since the redevelopment opened, footfall and commerce in the area have both benefited, Goel said. “Better circulation, improved infrastructure and a modern retail ecosystem have enhanced the overall consumer experience while helping businesses operate more efficiently.”
He called it proof that “thoughtfully planned commercial redevelopment can strengthen traditional marketplaces, improve visitor convenience and unlock greater economic potential without losing their historic identity.” The project has shaped how Omaxe approaches its other public-private partnerships, he said, since “successful redevelopment requires balancing heritage conservation with modern functionality” and “demand[s] close collaboration with government agencies, local stakeholders and the community throughout the development process.”
Omaxe’s ₹6,200 Crore Hotel Expansion: 19 Hotels Across UP, Punjab and Beyond
That same PPP playbook now extends across the city to Dwarka, and from there, well beyond Delhi. The Gateway Hotel at Omaxe State is one piece of a much larger hospitality vertical the group announced in June 2026. The Omaxe hospitality investment plan includes 19 hotels across five states, spanning nearly 5 million sq ft, backed by an investment of approximately ₹6,200 crore over the next four to five years.
Twelve of those 19 hotels are planned in Uttar Pradesh alone: two in Ayodhya, three in Lucknow, and properties in Prayagraj, Ghaziabad, Gorakhpur, Kaushambi and Vrindavan. The rest are spread across Faridabad, Ujjain, Chandigarh, Amritsar and Ludhiana, taking Omaxe’s hospitality footprint to 13 cities in total.
Explaining the timing, Goel said, “India’s hospitality sector is entering a strong growth phase, supported by rising domestic tourism, improving connectivity, religious tourism, business travel and increasing demand for quality accommodation beyond the metros.”
The strategy, he said, is meant to reinforce Omaxe’s existing business rather than sit apart from it: “Our hospitality strategy complements our destination-led developments by creating integrated ecosystems where hospitality, retail, entertainment and commercial infrastructure reinforce one another.”
“With the ₹6,200 crore investment across 19 hotels, we are building long-term assets in markets where demand fundamentals remain strong and organised hospitality capacity is still limited,” he added.
The heavy tilt toward Uttar Pradesh is deliberate. “Uttar Pradesh is emerging as one of India’s fastest-growing tourism and infrastructure markets, supported by significant public investment in connectivity, airports, expressways and religious tourism circuits,” Goel said.
Cities such as Ayodhya, Lucknow, Prayagraj, Vrindavan and Gorakhpur, he said, “are witnessing sustained growth in visitor arrivals and commercial activity, creating demand for quality hospitality infrastructure,” and Omaxe’s presence across them “reflects our long-term confidence in the state’s growth trajectory.”
Omaxe in Tier-2 Cities: Why Indore, Lucknow and New Chandigarh Are the New Growth Markets
Hospitality isn’t the only part of Omaxe chasing growth outside the metros. Its residential business has made a similar move toward Tier-2 cities like Indore, Lucknow and New Chandigarh, where homebuyer activity has picked up sharply.
“Tier-2 cities have evolved from being affordability-driven markets to aspiration-led growth centres,” Goel said. “Better infrastructure, improved connectivity, expanding employment opportunities and higher disposable incomes have significantly strengthened end-user demand.”
These cities are also seeing quality social infrastructure come up, he said, “making them attractive for long-term living rather than just investment,” with buyers increasingly seeking organised developments with modern amenities. “We believe this structural shift will continue as urbanisation expands beyond the metros,” he said.
That conviction has already found institutional backers. In May 2026, WSB Partners invested ₹75 crore in Omaxe against residential plotted projects in Ujjain and Indore, marking the investment firm’s entry into Tier-2 markets.
Luxury Housing Trends 2026: What Homebuyers Above ₹2 Crore Really Want, Says Omaxe MD
At the other end of the market, Omaxe is watching a parallel boom in luxury housing. On homes priced above ₹2 crore selling at a fast clip, Goel said, “Luxury housing is no longer a niche segment. Affluent buyers are prioritising quality of life, larger living spaces and premium amenities over mere ownership.”
He pointed to the pandemic as an inflection point that changed how people use their homes, “while rising incomes and stronger wealth creation have expanded the luxury buyer base.” Trust matters more than ever in this segment, he said: “Buyers are also placing greater value on trusted developers, prime locations and long-term asset appreciation, making premium residential projects increasingly attractive.”
The shift isn’t only about price points, Goel said, but about what buyers expect from a home altogether.
“Earlier, homebuyers largely evaluated projects based on price and location. Today, they assess the complete living experience,” he said, listing sustainability, wellness, security, technology integration, community spaces and access to retail and social infrastructure as factors that “have become equally important.”
Homes, in his words, “have evolved into lifestyle assets, and developers must design projects that deliver long-term value rather than just built space” — a line that could just as easily describe where Omaxe itself is headed, from a Chandni Chowk storefront to a hospitality portfolio stretching from Dwarka to Ayodhya.
Today, Goel leads a workforce of over 2,000 professionals across 31 cities in eight states. The company reported a turnover of ₹1,637 crore in FY 2024-25, a number he attributes to sharper operational focus and the ability to execute complex, city-centric projects.
A commerce graduate and an alumnus of IIM Bangalore’s Executive Programme, Goel was named Young Achiever at the ABP Real Estate Awards in 2014, and now hosts Nexxt In Line, a podcast on succession and next-generation leadership in family businesses.
