Shapoorji Pallonji Real Estate signs joint venture agreement with Kanodia Group for a luxury residential project in Gurugram


Shapoorji Pallonji Real Estate (SPRE) has entered into a joint venture with Gurgaon-headquartered Kanodia Real Estate Ventures (KREEVA) to develop a luxury residential project in Sector 46, Gurugram.

In April this year, Kanodia Group acquired 1.74 acres of land for Rs 153 crore.

The project will consist of luxury apartments, and the company is expecting a revenue of Rs 1,200 crore.

“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 homebuyers,” said Venkatesh Gopalakrishnan, Director Group Promoters. Office, MD & CEO, Shapoorji Pallonji said. Real Estate (SPRE).

This is the second project of Shapoorji Pallonji Real Estate in Gurugram.


“Leveraging the combined strengths of both companies, we are confident in delivering an unparalleled, world-class living experience that sets a new standard for luxury in one of Gurugram's most prestigious locations, ” said Gautam Kanodia, Founder, Kariva and Co-Founder. Kanodia Group. With a development capacity of over 142 million square feet, SPRE has developed a variety of developments ranging from luxury apartments and luxury residences to aspirational homes in most Indian cities—Mumbai, Pune, Bangalore, Gurugram, and Kolkata. Has stepped along. One of the largest housing projects in India for middle income home buyers as well. While the Kanodia Group is originally a conglomerate established as a player in the cement industry, it has now expanded its portfolio to sectors such as hygiene, building solutions, media, real estate.

The project will be launched by the end of this year and is expected to be completed in 48 to 60 months.

The land acquired by Kanodia Group is conveniently located near Maidanta Hospital and Hooda City Center Metro Station. A premium mixed-use project near this land is also under construction by IKEA.

Kanodia Group has committed to invest over Rs 5000 crore in the industry over the next 5-7 years with a commitment to launch a series of real estate projects with a global outlook.

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