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Shapoorji Pallonji Launches Maiden Residential Project In Capital

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Business conglomerate Shapoorji Pallonji to build its first residential project worth Rs 1200 crore in Delhi-NCR

Real estate giant Shapoorji Pallonji recently launched its first residential project named Joyville Gurugram in Delhi-NCR. Its total estimated cost is Rs 1,200 crore.

It has a land area of 18 acres and is located on Dwarka Expressway. It will be built by a $200 million platform established by Shapoorji Pallonji, ADB, IFC and Actis.

The first phase of construction has a target of 516 flats to complete. Depending on their size and amenities they will cost between Rs 58 lakh to Rs 1.05 crores. The total number of apartments will be 1,500 in three phases.

Joyville Shapoorji Housing MD Sriram Mahadevan confirmed the news. “We are entering into Delhi-NCR which is the biggest real estate market in the country. We are launching a housing project at Sector 102 in Gurugram,” Sriram said. He is hopeful that the 18-km long Dwarka Expressway will also be opened for public use when Joyville Gurugram is completed.

Shapoorji Pallonji bought this land from real estate developer, BPTP Ltd. Actual construction work is slated to commence at the earliest with a deadline of mid-2024 to complete it.

With the launch of this project, Shapoorji Pallonji has introduced the development of 9.5 million square feet under the Joyville platform. It is already is working on residential buildings in Howrah-Kolkata, Mumbai, and Pune. While the company has future plans to build two more projects in Gurugram and Noida, they will be under a different platform.

Shapoorji Pallonji is also going to take special care so as to not aggravate the already disastrous pollution situation of Delhi. It is going to install outdoor air pollution controllers in children’s play areas, common walkways, garden areas, clubhouse and similar outdoor locations in Joyville Gurugram.

Shapoorji Pallonji Real Estate will also work on residential projects with a massive area of 80-90 million square feet in total. They are located across the country in Mumbai Metropolitan Region (MMR), Pune, Bengaluru, Hyderabad, Kolkata, Howrah, Delhi, Gurugram, Noida and Mohali.

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