Updated – October 15, 2024 at 06:40 PM.
|
Mumbai, October 15
The joint venture with Kanodia Group’s real estate venture KREEVA has an estimated revenue potential of ₹1,200 crore
Shapoorji Pallonji Real Estate (SPRE) has entered into a joint venture with Kanodia’s real estate venture KREEVA to develop a luxury residential project in Gurugram, with an estimated revenue potential of ₹1,200 crore.
Sector 46 is a premium residential locality within Gurugram.
The project is spread across 1.74 acres and will have luxury apartments aimed at “discerning homebuyers” , the company said.
The project will offer a blend of modern design, superior construction quality, and the latest in amenities. This is the second project of the SP group’s real estate arm in Gurugram.
“This collaboration is in line with our vision of expanding our footprint in key markets across India, while delivering high-quality residential projects that cater to the evolving needs of homebuyers,” said Venkatesh Gopalakrishnan, Director, Group Promoter’s Office, MD & CEO, Shapoorji Pallonji Real Estate.
Kanodia Group’s co-founder Gautam Kanodia said by leveraging the combined strengths of both companies “we are confident about delivering an unparalleled, world-class living experience that sets a new standard for luxury in one of Gurugram’s most prestigious locations.”
The project offers seamless connectivity to major business hubs, healthcare facilities, educational institutions, and entertainment options in the NCR.
SPRE has a development potential of over 142 million square feet, with projects in Mumbai, Pune, Bengaluru, Gurugram, and Kolkata, with a variety of developments, from luxury apartments to aspirational homes for mid-income homebuyers.
Kanodia Group is a diversified group with interests in cement, hygiene, building solutions, media, and real estate.
