Kanodia Group's KREEVA to Invest ₹1,100 Crore in South Delhi Luxury Housing Project

Kanodia Group’s real estate arm, KREEVA, has announced an investment of ₹1,100 crore to develop an ultra-luxury residential project in South Delhi. The initiative forms part of the group's broader expansion strategy in the Delhi-NCR region.

The newly launched residential project, named 'Swaranaya', spans 2 acres on Mathura Road. It will comprise 114 units with a total saleable area of 5 lakh square feet. According to the company, construction is scheduled to begin in January, with project completion expected by 2031.

To part-finance the development, KREEVA has raised structured capital from ASK Group. Mayank Jain, CEO of KREEVA, noted that demand remains strong for luxury homes across the Delhi-NCR market, marking this as the company's second real estate venture.

Gautam Kanodia, Founder of KREEVA and Kanodia Group, stated that consumers are increasingly willing to invest in better homes while expecting greater accountability from developers. He emphasized that the company's responsibility is to scale in a way that consistently meets those expectations.

This development follows earlier real estate collaborations by the Kanodia Group. In May of the previous year, Shapoorji Pallonji Real Estate (SPRE), in partnership with KREEVA and ASK Property Fund, launched a luxury housing project titled 'The Dualis' in Gurugram, featuring a revenue potential of ₹1,400 crore across 198 units. Additionally, in October 2024, SPRE formed a joint venture with KREEVA to develop a residential project on a 1.75-acre parcel in Sector 46, Gurugram.

Beyond Delhi-NCR, KREEVA is evaluating further business expansion into select Tier II cities, including Lucknow and Chandigarh. The diversified Kanodia Group operates across multiple sectors, encompassing cement, building solutions, media, and real estate.

"The commitment of ₹1,100 crore by KREEVA into a South Delhi luxury housing project highlights the growing institutional backing and structured capital involvement in India's real estate sector. Partnering with ASK Group for part-financing demonstrates a strategic approach to managing large-scale capital requirements while navigating long development timelines. As developers expand into Tier II cities like Lucknow and Chandigarh alongside core markets like Delhi-NCR, maintaining execution accountability will remain critical for sustained long-term growth in the premium housing segment." — Dr. Shishir Gupta, Founder & CEO, StartupLanes