
Shapoorji Pallonji Real Estate, KREEVA & ASK Property Fund launch residential project in Gurugram
Shapoorji Pallonji Real Estate
(SPRE), in partnership with
KREEVA
and
ASK Property Fund
, has launched a residential development project-
The Dualis
in sector 46,
Gurugram
.
The project is expected to generate projected top-line revenues of over ₹1,400 crore over the next five years.
It will have two towers with 198 3-BHK and 4-BHK residences with saleable areas ranging from 2,850 to 3,600 sq ft.
This is SPRE's second project in the city.

Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
&w=3840&q=100)

Business Standard
6 days ago
- Business Standard
Shapoorji Pallonji may sell Tata Sons stake to repay ₹8,810 crore debt
The Shapoorji Pallonji Group may use part of the proceeds from a potential sale of its 18.4 per cent stake in Tata Sons to repay ₹8,810 crore in bonds, Bloomberg reported. The company aims to repay ₹8,810 crore ($1 billion) in bonds issued by Goswami Infratech Pvt, due in April 2026. Paying off this debt could free up funds for other projects. Talks are still in the early stages and the plan could change. Link to Tata Sons exit talks Last week, The Economic Times reported that Tata Sons had started discussions with Shapoorji about options for the group to exit its stake. This comes less than three months after Shapoorji raised $3.4 billion in India's largest-ever private credit deal. Using proceeds from the Tata Sons stake sale to repay the bonds would help cut borrowing costs. In May, Shapoorji offered a high 19.75 per cent yield to raise funds. The company also recently secured a key waiver from the banking regulator to avoid an increase in costs for its private credit deal. Shapoorji Pallonji launches ₹800 cr project in Pune The group's real estate arm, Shapoorji Pallonji Real Estate (SPRE), has announced a premium residential project in Pune with a revenue potential of ₹800 crore. The project, called VANAHA Verdant, is located near Bavdhan in southwest Pune. It will cover five acres and offer about one million square feet of saleable space. It is part of a massive 1,000-acre integrated township being developed by SPRE. The township has over 350 acres of open spaces and a mix of residential, commercial, and retail areas. It is close to major IT hubs such as Hinjewadi, Mahalunge-Mann Hi-Tech City Park, Baner, and the Mumbai-Bengaluru National Highway. Upcoming infrastructure projects including Metro Line-2 from Chandni Chowk to Viman Nagar, the six-lane Paud-Mahad corridor, a new eight-lane flyover at Chandni Chowk, and the 14-lane Pune Ring Road will 'significantly enhance' connectivity, SPRE said. Within the township, SPRE has already sold more than 2,000 apartments worth ₹1,800 crore in both mid-segment and premium housing projects.
&w=3840&q=100)

Business Standard
06-08-2025
- Business Standard
Stable rate will nudge people to buy homes: Real estate industry execs
The Reserve Bank of India's decision to hold the repo rate at 5.50 per cent on Wednesday will provide 'much-needed predictability' to the real estate sector and encourage people to buy homes, according to industry executives. The central bank has cut the policy repo rate by 100 basis points (bps) so far in 2025. That coupled with efforts to maintain liquidity amid global uncertainties may help housing affordability, they said. 'For the real estate sector, the continuation of stable policy rates and surplus liquidity conditions provide much-needed predictability and help preserve affordability for homebuyers,' said Shishir Baijal, chairperson and managing director (MD), Knight Frank India. 'Notably, some banks have already reduced consumer home loan rates — a move that supports housing demand, especially in the mid-income and low-income segment — and more transmission in interest rates is underway. This policy continuity, coupled with easing credit conditions and steady economic growth can provide a boost to the affordable housing categories,' he said. A stable rate environment and the benefits of previous rate cuts are expected to boost affordable and mid-income housing. 'With a cumulative rate cut of 100 bps since February 2025, the ongoing monetary policy transmission is gradually taking effect, and the full impact on the broader economy, including the real estate sector, is still unfolding,' said Venkatesh Gopalakrishnan, director group promoter's office, MD - Shapoorji Pallonji Real Estate. 'From a housing perspective, especially in the affordable and mid-income segments, the current rate environment continues to offer conducive conditions for homebuyers. Steady interest rates help preserve affordability and sustain buyer sentiment, encouraging long-term investment in homeownership,' he said. Industry experts believe that stable rates mean that attractive home loan rates will continue. State Bank of India, Punjab National Bank and Canara Bank are among lenders that recently reduced home loan rates. 'The market's current momentum is built on solid demand, and this decision allows that organic growth to continue without the market becoming overly dependent on rate cuts. Knowing that interest rates are stable gives both developers and buyers a clear runway for planning,' said Samantak Das, chief economist and head of research and REIS, India, JLL. Indian real estate is 'weathering unrelenting turbulence' due to US tariffs and a 20 per cent plunge in housing sales in top cities, according to Anarock, a real estate consultancy. As many as 96,285 homes were sold in the second quarter of 2025, down almost 20 per cent from the previous year (120,335 homes sold) to indicate increasing buyer hesitancy and market uncertainty. Average prices for residential properties in top seven cities have increased by 39 per cent in the last two years: from Rs 6,470 per square foot in the second quarter of 2023 to Rs 8,990 per square foot as of Q2 2025. 'That said, overall, homebuyers are currently driven by long-term confidence rather than short-term rate fluctuations. Given the upcoming festive season, developers may look to keep the market momentum going with offers and flexible payment plans, which may help improve affordability for many genuine buyers,' said Anuj Puri, chairperson of Anarock. Pradeep Aggarwal, founder and chairperson, Signature Global (India), said the central bank's unchanged policy stance will help the real estate sector's growth. 'With steady interest rates and strong consumer confidence, developers are expected to meet the sustained demand for quality housing through greater focus on new offerings,' he said.


Fashion Value Chain
04-08-2025
- Fashion Value Chain
VANAHA Collaborates with Aston Martin New Delhi for an Exclusive Luxury Showcase in Pune
Shapoorji Pallonji Real Estate (SPRE), one of India's most trusted real estate developers, hosted an exclusive experiential event at VANAHA in collaboration with Aston Martin New Delhi, spotlighting a strategic alignment of elegance, precision, and opulence. Aston Martin showcases its luxury models at Vanaha by Shapoorji Pallonji Real Estate in Pune Held at the VANAHA Experience Centre, the evening featured two iconic Aston Martin models – Vantage and DBX 707 each valued at over INR 5 crore. This dazzling display attracted more than 500 distinguished partners, influencers, and prospective buyers, offering them a rare opportunity to immerse themselves in the world of ultra-luxury automobiles while experiencing VANAHA's premium vision for future living. This one-of-a-kind marketing activation in the Indian real estate industry is setting a new precedent for experiential brand engagement. Commenting on the event, Mr. Sriram Mahadevan, CEO of Shapoorji Pallonji Real Estate and MD of Joyville Shapoorji Housing, said, 'At VANAHA, we believe luxury is not just about a product but about an experience that resonates with aspiration, elegance, and exclusivity. Our strategic association with Aston Martin New Delhi allowed us to create a truly unique event, one that not only showcased the pinnacle of automotive excellence but also underscored VANAHA's commitment to offering unmatched lifestyle experiences.' The showcase followed SPRE's recent announcement of VANAHA Verdant, a premium residential development within its flagship 1000-acre integrated township, VANAHA, near Bavdhan, Pune. Spread over approximately 5 acres, the project will offer around 10 lakh square feet of saleable area. Strategically located near Pune's key IT hubs like Hinjewadi, Mahalunge-Mann Hi-Tech City Park, and Baner, VANAHA offers exceptional connectivity and lifestyle appeal for professionals. The location is further enhanced by its proximity to renowned educational institutions, such as FLAME University and Symbiosis International University, as well as multi-speciality hospitals and established commercial centres. The presence of the prestigious Oxford Golf Course, ranked among Asia's top 5, adds yet another layer of exclusivity to the township's lifestyle proposition. VANAHA blends nature with connectivity, offering residents a serene, green lifestyle surrounded by over 400 species of flora and fauna. Future infrastructure upgrades such as the upcoming Metro Line 2 (Chandni Chowk to Viman Nagar), the proposed 10-lane Mumbai-Bangalore National Highway, the proposed 6-lane Paud-Mahad corridor, the proposed new 8-lane flyover at Chandni Chowk, and the proposed 14-lane wide Ring Road will significantly enhance accessibility and value for residents. About Shapoorji Pallonji Real Estate (SPRE) Shapoorji Pallonji Real Estate is a well-regarded, reputed player in the Indian real estate sector owing to its cutting-edge design innovation, construction quality, and architectural excellence. It constitutes a significant segment of the Shapoorji Pallonji Group, an enormous multi-business conglomerate. The group has more than 160 years of legacy that bridges the earliest celebrated structures of India and the modern marvels. With a development potential of over 130 million square feet, SPRE has made inroads into most Indian cities-Mumbai, Pune, Bangalore, Gurugram, and Kolkata-with a variety of developments, from luxury apartments and opulent residences to aspirational homes for mid-income homebuyers as well as one of the largest mass housing projects in India. Link to the website: