Joyville by Shapoorji Pallonji plans ₹400-cr project in Gurugram
Joyville, Shapoorji Pallonji's real estate platform, has planned to invest ₹400 crore to develop the third phase of its housing project in Gurugram as demand for residential properties is increasing in the country. Joyville is a USD 200 million mid-income housing platform established by Shapoorji Pallonji, ADB, IFC and Actis. In January 2019, the company had launched the first phase of the 18-acre project 'Joyville Gurugram' on Dwarka Expressway bordering Haryana. The second phase was launched in June 2019 and in the newest phase, the company will develop more than 400 units. There had been price appreciation in this project over the last two years. In contrast, the first phase was launched at ₹5,800 per sq ft, the unit in the third phase costs around ₹7,200 per sq ft. MD of Joyville Shapoorji Housing, Sriram Mahadevan, informed that the Joyville platform is developing around 1,500 units in all three phases of the project with a total investment of ₹1,200 crore on a land parcel it acquired from another real estate developer BPTP Ltd.
📅Published on:
29 January 2021
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