Luxury developer Krisumi Corporation on Monday announced that it would invest Rs 2,000 crore to develop 1,051 luxury homes and penthouses in its Krisumi City at Gurugram’s Sector 36A. This is in addition to the cost of land acquisition.
The developer, a joint venture between Krishna Group and Japan’s Sumitomo Corporation, will launch two projects spanning 5.88 acres named “Waterside Residences III” and “Waterfall Suites II”. These projects will have four towers with 1-BHK, 2-BHK, 3-BHK, and 4-BHK luxury homes and penthouses. These apartments will range from 940 square feet to 10,316 square feet.
The project will have a total developable or built-up area of 2.3 million square feet. It is expected to be completed in December 2029.
The Waterfall Suites II will have apartments starting at Rs 2.17 crore and going up to Rs 2.67 crore. It will have penthouses starting at Rs 25 crore.
The Waterside Residences III will have homes priced between Rs 4.08 crore and Rs 6.16 crore. It will also have penthouses starting at Rs 13.36 crore.
Vineet Nanda, director of sales and marketing at Krisumi, said that the company received 1,024 expressions of interest to buy the 1,051 apartments in a single day.
“We are now in the process of selecting buyer profiles for allotment. The current market trends show a significant shift towards larger, luxury apartments post-pandemic. We are confident in achieving a total revenue realisation of Rs 4,000 crore,” he said.
The company said that it would also develop a state-of-the-art club over 2 acres, with a built-up area of approximately 160,000 square feet in Sector 36A, Gurugram. The developer will invest Rs 350 crore for the club.
It will have facilities like an indoor futsal court, paddle court, table tennis, badminton, basketball, cricket nets, and squash courts, all within a climate-controlled environment.
The club will also feature a state-of-the-art gymnasium, steam rooms, saunas, a spa, a heated indoor plunge pool, and an outdoor swimming pool. Additionally, there will be a card room, library, business centre, meeting rooms, and co-working spaces to cater to the diverse needs of the residents.
Krisumi City is an integrated township in Sector 36A, Gurugram. The “Waterfall Residences,” Phase-I of the development comprising 433 units, is nearing completion. The “Waterfall Suites,” Phase-II, which comprises 320 units, was launched in May and is scheduled for delivery by Q4 2028.
“At Krisumi, we see ourselves not just as a real estate company but as a hospitality company aiming to deliver a 5-star lifestyle to the residents of Krisumi City,” said Mohit Jain, managing director, Krisumi Corporation.
“The success of our previous phases and the overwhelming response to our new launch reaffirm our belief in the potential of the Indian real estate market,” said Yuji Kato, director and co-chief executive officer at Krisumi Corporation.
Source : Business Standard
