Shapoorji Pallonji Real Estate (SPRE) said on October 15 that it has entered into a joint venture with Kanodia's real estate venture KREEVA to develop a luxury housing project in Sector 46 of Gurugram, with an income of approx. There is capacity. ₹1200 crores.
Spread over 1.74 acres, the project will consist of luxury apartments, targeting home buyers in the National Capital Region (NCR).
“This collaboration is in line with our vision to expand our footprint across key markets across India while delivering high-quality residential projects that cater to the evolving needs of home buyers. This is our second project in Gurugram, And we aim to create a landmark that will redefine the skyline of the venue and provide an unparalleled lifestyle experience,” said Venkatesh Gopalakrishnan, Director, Group Promoter Office, MD & CEO, Shapoorji Pallonji. Real Estate (SPRE) said.
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“We are delighted to collaborate with Shapoorji Pallonji Real Estate to bring this luxury residential project to life in Gurugram. Leveraging the combined strengths of both companies, we look forward to delivering an unparalleled, world-class living experience.” I am confident it sets a new benchmark for luxury in one of Gurugram's most prestigious locations,” said Gautam Kanodia, Founder, KREEVA and Co-Founder, Kanodia Group.
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Project development potential
SPRE has a development potential of over 142 million square feet and has a presence in most Indian cities – Mumbai, Pune, Bengaluru, Gurugram and Kolkata – with multiple developments.
Kanodia Group plans to further expand its presence in Delhi NCR, Bihar, Haryana, Rajasthan and Uttar Pradesh.
According to real estate data analytics firm PropEquity, house prices in the top 10 cities have increased by 88 percent over the past five years, with Gurugram seeing the highest increase of nearly 160 percent.
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