Shapoorji realty plans Rs.800 cr project

Shapoorji Pallonji Real Estate
In a recent development, Shapoorji Pallonji Real Estate, part of the Shapoorji Pallonji Group, has acquired 20 acres land parcel near Dwarka Expressway in New Delhi from builder BPTP Ltd, to build a 2 million sq.ft affordable housing project, said official sources adding that the BPTP is trying to settle all dues to foreign investors JP Morgan Chase and Co. and Apollo Global Management LLC and will use the money from this sale to pay off the last tranche.

Shapoorji Pallonji will build affordable homes under its Joyville brand on the land parcel. The residential project will be about 2 million sq.ft in size. The project is expected to cost over Rs.800 crore and would be funded by a consortium of global investors which Shapoorji Pallonji had tied up with last year to build affordable homes across the country.
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