Shapoorji Pal­lonji for­ays into NCR with mid-in­come hous­ing

HT Estates - - FRONT PAGE - Bidya Sa­pam [email protected]

MUM­BAI: Shapoorji Pal­lonji Group for­ayed into the Na­tional Cap­i­tal Re­gion ( NCR) on Wed­nes­day with the launch of the first res­i­den­tial project un­der its mid-in­come hous­ing brand, Joyville, in Gu­ru­gram. The com­pany plans to in­vest around Rs 1,200 crore to de­velop the project.

This is the fourth project un­der the Joyville brand. It is al­ready present in Kolkata, Virar and Pune.

In 2015, the group joined hands with Stan­dard Char­tered Pri­vate Eq­uity, In­ter­na­tional Fi­nance Cor­po­ra­tion (IFC) and the Asian De­vel­op­ment Bank (ADB) to form the $200-mil­lion in­vest­ment plat­form Joyville to build 20,000 homes across the coun­try.

Spread over 18 acres, Joyville Gu­ru­gram will have 516 apart­ments in the first phase, the com­pany said in a state­ment.

Thede­vel­op­mentof­fers dif­fer- ent unit con­fig­u­ra­tions of two bed­room and three-bed­room flats.

Prices of apart­ments range from Rs 58 lakh to Rs 1.05 crore.

“We have wit­nessed a huge de­mand for qual­ity as­pi­ra­tional homes de­liv­ered on time by trusted brands in the NCR mar­ket, and that is the space which Shapoorji Pal­lonji Group wants to seize.

We are con­fi­dent that our newly launched project will meet cus­tomers’ ex­pec­ta­tions for an as­pi­ra­tional liv­ing in this res­i­den­tial mar­ket,” ac­cord­ing to Sri­ram Ma­hade­van, man­ag­ing direc­tor, Joyville Shapoorji Hous­ing.

THE MID-IN­COME HOUS­ING BRAND IS AL­READY PRESENT IN KOLKATA, VIRAR AND PUNE

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