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Real Estate arm of Shapoorji Pallonji Group on Wednesday announced its entry into National Capital Region (NCR) with the launch of its residential project under the brand Joyvillein Gurugram.
Joyville is a $200 million platform by Shapoorji Pallonji, Asian Development, Actis and International Finance Corporation to develop aspirational housing projects in India.
"This project in Gurugram fits well within our overall growth strategy of expanding presence in the aspirational housing segment which is the sweet spot of India's real estate market," said Sriram Mahadevan, Managing Director (MD), Joyville Shapoorji Housing.
Joyville Shapoorji Housing plans to develop around 16 million square foot to be built in the coming years. After the launch of this project in Gurugram, around 9.5 million will be covered under Joyville, added Mahadevan. Joyville currently has is present in four cities namely Pune, Mumbai, Kolkata and the NCR.
The 18 acre project in Gurugram will be developed in three phases and will offer different unit configurations of 2 BHK (i.e bedroom, hall and kitchen) to 3 BHK flats. “Around 40 per cent of the inventory in the project comprises of 2 BHK,” he said.
The starting price of a 2 BHK flat to be built in the carpet area of 589.49 square feet (sq.ft) would be ₹ 58 lakh excluding stamp duty and registration. On the other hand, the upper limit is ₹ 1.04 crore for a 3 bhk flat of the carpet area 1128 sq.ft.
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