Business conglomerate Shapoorji Pallonji’s real estate platform Joyville will invest around Rs 400 crore to develop Phase-III of its housing project in Gurugram, Haryana.
Joyville is USD 200 million mid-income housing platform established by Shapoorji Pallonji, ADB, IFC and Actis.
In January 2019, the company had launched Phase-I of the 18 acre project ‘Joyville Gurugram’ on Dwarka Expressway in Gurugram. Phase-II was launched in June 2019.
The company will develop more than 400 units in Phase-III. Phase-I was launched at Rs 5,800 per sq ft; the unit in Phase-III costs around Rs 7,200 per sq ft.
The Joyville platform is developing around 1,500 units in all three phases of the project with a total investment of Rs 1,200 crore. It bought the land parcel from another real estate developer BPTP.