Gurugram real estate news: KREEVA has announced to invest a whopping Rs 400 crore in Gurugram's real estate market over the next few years. The investment plan is a part of KREEVA's expansion plans in the real estate sector.
KREEVA is a real estate company. It is a part of Kanodia Group.
KREEVA said that it will invest Rs 400 crore to develop a housing project in Gurugram.
For this, KREEVA has entered into a joint development agreement with a landowner. Under the agreement, KREEVA will build the housing project on a land spanning over 3 acres.
Gurugram Real Estate News: KREEVA New Project Location
KREEVA said that its upcoming housing project in Gurugram will be located on Southern Peripheral Road.
The new housing project will have 200 units or flats. All the flats will have a built-up area of 5.5 lakh sq ft.
"The investment is estimated at Rs 350-400 crore," Gautam Kanodia, founder of KREEVA and Kanodia Group, said.
Gautam Kanodia said that the new project is coming up at a time when the housing market in Gurugram and the NCR region is witnessing a boom.
"The new housing project will meet the demand for fresh units in Delhi-NCR," Gautam Kanodia said.
Earlier in 2024, the renowned Shapoorji Pallonji Real Estate (SPRE) had formed a joint venture with KREEVA. The JV is working on developing a residential project in Gurugram, spread over 1.75 acres.
Other than the real estate business, Kanodia Group is also engaged in other businesses like cement, media and more.
