New Delhi, Oct 15 (PTI) Shapoorji Pallonji Real Estate (SPRE) has formed a joint venture with Kanodia Group’s real estate venture Kreeva to develop a luxury residential project in Gurugram with a revenue potential of around Rs 1,200 crore.
The land is located at Sector 46, Gurugram.
Spanning across 1.74 acres, the project will consist of luxury apartments, targeting homebuyers in the National Capital Region (NCR), the company said in a statement.
The project has a revenue potential of over Rs 1,200 crore, it added.
Venkatesh Gopalakrishnan, Director Group Promoter’s Office, MD & CEO, SPRE, said, the collaboration with Kreeva (Kanodia Real Estate Venture Arm) is in line with the company’s vision of expanding its footprint in key markets across India.
“This is our second project in Gurugram, and we aim to create a landmark that will redefine the skyline of the location and provide an unparalleled living experience,”he said.
Gautam Kanodia, founder of Kreeva and co-founder of Kanodia Group said, “By 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.” With a development potential of over 142 million square feet, SPRE has made inroads into most big Indian cities — Mumbai, Pune, Bengaluru, Gurugram, and Kolkata — with a variety of developments, from luxury apartments and opulent residences to aspirational homes for mid-income homebuyers as well as one of the largest mass housing projects in India, the statement said.
Kanodia Group is into diverse businesses, including cement, building solutions, media and real estate, among others. PTI MJH MJH ANU ANU
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