Mumbai, Nov. 2 -- Kanodia Group's real estate arm KREEVA plans to invest Rs. 50 bn over the next four to five years in luxury housing projects across Delhi-NCR and select Tier-2 cities, including Chandigarh and Lucknow. The expansion follows the launch of its ultra-luxury residential project in South Delhi and will be guided by local demand and buyer preferences.
The proposed portfolio will include a multigenerational housing development on Gurugram's Southern Peripheral Road. The project is being designed to accommodate several generations of a family in close proximity while allowing individual households to retain privacy and independence. KREEVA has not disclosed the investment, unit count, launch schedule or pricing for the development.
The company plans to combine projects in established NCR locations with selective expansion into other cities instead of applying a uniform model across markets. Its proposed homes will focus on larger living spaces, privacy, lifestyle amenities and managed community services. KREEVA said Chandigarh, Lucknow and other select Tier-2 markets offered potential for differentiated luxury residential products as buyer aspirations evolve.
The strategy comes as developers seek to capture demand from affluent families looking for larger homes and lifestyle facilities in Gurugram and other parts of Delhi-NCR. KREEVA's expansion will therefore balance market entry with financial discipline and an assessment of whether local demand can support sustained growth.
KREEVA's South Delhi project, Swaranaya, spans 2 acres and recorded launch-day sales of Rs. 7.5-8 bn, according to the company. All residences in its first phase were fully booked. The development comprises 114 residences, including 3.5-, 4- and 5.5-BHK homes, with prices starting at Rs. 150 mn. The larger 5.5-BHK residences in the first phase were also sold out.
Swaranaya is positioned as a collection of bespoke sky villas with spacious interiors, shared family areas and private spaces. The project is also planned to include lifestyle and recreational facilities supported by global partners, alongside hospitality-led services and security arrangements.
Published by HT Digital Content Services with permission from Construction World.