ASK Property Fund, KREEVA, and Shapoorji Pallonji Real Estate have jointly declared an investment exceeding Rs 270 crore in a luxury residential project located in Gurugram. This amount represents the initial funding for the collaborative development endeavor.
Situated in Sector 46, Gurugram, and encompassing 1.74 acres, this luxury housing initiative aims to transform the urban living experience within the National Capital Region’s real estate sector. The project is anticipated to generate top-line revenues surpassing Rs 1,200 crore over the forthcoming five years.
Sector 46 in Gurugram is a well-established residential real estate market, benefiting from its proximity to key employment hubs and well-developed social infrastructure.
Also Read RBI Monetary Policy Meeting HIGHLIGHTS: RBI CUTS CRR by 50 bps to 4%, keeps repo rate UNCHANGED, FY25 GDP target revised LOWER to 6.6% Sanjay Malhotra appointed new RBI Governor, to replace Shaktikanta Das Vaishno Devi ropeway project: Mehbooba Mufti urges L-G Sinha to reconsider project Commercial Real Estate Market: Trends and Forecast for 2025
Also Read: 7 proven strategies to stop buying things you never use
Bhavin Jain, Chief Investment Officer of ASK Property Fund, expressed enthusiasm regarding this new investment in Gurgaon, stating, “We are pleased to announce our latest venture in this region. The project presents remarkable revenue potential, attributed to its strategic location within a well-established catchment area. With substantial equity from KREEVA and a partnership with Shapoorji Pallonji Real Estate, we are effectively mitigating risks, thereby creating a highly attractive investment opportunity for our firm.”
Venkatesh Gopalakrishnan, Director at the Group Promoter’s Office and Managing Director & CEO of Shapoorji Pallonji Real Estate, remarked, “Our partnership with KREEVA and ASK Property Fund for the Sector 46 project in Gurugram highlights our dedication to providing superior residential developments that align with the changing preferences of discerning clients. This collaboration harnesses our combined expertise to establish new standards in luxury living within the Delhi-NCR area.”
Dr. Gautam Kanodia, Founder of KREEVA and Co-founder of Kanodia Group, noted, “We are thrilled to collaborate with ASK, whose financial support reinforces our strategic vision. Our alliance with Shapoorji Pallonji Real Estate instills confidence in our ability to deliver this luxury project with an exceptional experience. This partnership will accelerate the development of our flagship project in Sector 46. Given the robust demand in the luxury real estate market,
» Read More
