S Pallonji clears ₹1,200-cr realty project in Delhi-NCR

Construction and infrastructure building major, Shapoorji Pallonji, after foraying into the Delhi-NCR realty market, has announced the development of a ₹1,200 crore housing project Joyville Gurugram on the Dwarka Expressway. Spread over 18 acres, it will be funded by a USD 200 million platform established by Shapoorji Pallonji, ADB, IFC and Actis. The group will develop 516 flats in the first phase and units will have a price range of ₹58 lakh to ₹1.05 crore. A total of 1,500 units will be built in three phases, said MD - Housing, Sriram Mahadevan. He informed that the 18-km Dwarka Expressway would become operational by the time the project is completed. The company has launched a housing project at Sector 102 in Gurugram.