S Pallonji launches ₹400-cr realty venture in NCR

Shapoorji Pallonji has launched 12 projects in the second phase of its Joyville Gurugram venture entailing an investment of ₹400 crore. The projects stretch across 18 acres in Sector 102 of the satellite city. Under phase two, the company has launched 516 apartments in configurations of 2- and 3-BHK in the price range of ₹65 lakh to ₹1.2 crore. The project to be executed in three phases will develop 1,550 units with a total investment of ₹1,200 crore. At the conclusion of the second phase, the company will develop 9.5 million sq ft under the Joyville platform out of the planned 16 million sq ft. Joyville is a $200 million platform by Shapoorji Pallonji, ADB, IFC and Actis to develop aspirational housing projects in India, Sriram Mahadevan, MD, Housing, ,Joyville Shapoorji said that the company is committed to enhancing presence in the Delhi-NCR as part of our strategy to grow its business in leading end-user driven and job-creating real estate markets across the country.