RERA in Real Estate: What Buyers and Builders Need to Know
2024-12-23 01:51:26
A luxury residential project spanning 1.74 acres in Sector 46, Gurugram, is set to take shape through a ₹270 crore joint investment by ASK Property Fund, Shapoorji Pallonji Real Estate, and KREEVA, the real estate arm of Kanodia Group. The developers are targeting a topline of over ₹1,200 crore from the project within the next five years.
“We’re thrilled to announce another investment in Gurugram, recognising the project’s revenue potential due to its prime location in an established catchment area. With significant equity from KREEVA and our partnership with Shapoorji Pallonji Real Estate, this venture minimizes risks and offers a compelling investment opportunity,” said Bhavin Jain, Chief Investment Officer of ASK Property Fund.
Venkatesh Gopalakrishnan, MD & CEO of Shapoorji Pallonji Real Estate, highlighted the company’s commitment to delivering top-tier residential developments, adding that the collaboration underscores their focus on meeting the needs of modern homebuyers.
Gautam Kanodia, founder of KREEVA, expressed confidence in the partnership’s ability to expedite project development, marking a significant milestone for the Kanodia Group’s real estate ambitions.
Earlier this year, Kanodia Group acquired the 1.74-acre plot in Sector 46, Gurugram, for ₹153 crore, laying the foundation for this ambitious luxury housing project.
2024-12-23 01:51:26
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