Kanodia Group’s real estate arm, KREEVA, plans to invest ₹5,000 crore over the next four to five years in luxury housing projects across Delhi-NCR and select Tier-2 cities, including Chandigarh and Lucknow, company officials said on October 27.
The investment will support a mix of residential developments, including a multigenerational housing project on Gurugram’s Southern Peripheral Road (SPR). The company said it would assess opportunities in each market based on local demand and buyer preferences, focusing on luxury homes that offer larger living spaces, privacy, and lifestyle amenities.
The proposed Gurugram project is being conceptualised to accommodate multiple generations of a family within close proximity while allowing individual households to maintain their privacy and independence. KREEVA has not disclosed the project’s investment, the number of units, the launch timeline, or pricing, the company said.
The expansion comes as developers seek to tap demand for luxury housing in Gurugram and other parts of Delhi-NCR, including from affluent families looking for larger homes and lifestyle amenities within managed residential communities.
KREEVA said its strategy would combine projects in established NCR locations with selective entry into other cities, rather than applying a uniform housing model across markets.
“Our expansion into new markets will be selective. We will enter where we see a genuine opportunity to serve buyers well and establish a lasting presence, while keeping our standards and financial discipline intact,” said Gautam Kanodia, founder of KREEVA and Kanodia Group.
“The opportunity in luxury housing lies in understanding where demand is deep enough to support long-term growth. We see potential in Chandigarh, Lucknow and other select Tier-2 markets, where buyers’ aspirations are creating room for a more differentiated residential offering,” said Ankur Balendu Dwivedi, head of sales at KREEVA.
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South Delhi project
KREEVA said its ultra-luxury residential project, Swaranaya, in South Delhi, recorded sales of ₹750-800 crore on launch day, with all residences in the first phase fully booked.
The project comprises 114 residences and offers 3.5- and 4-BHK homes, with prices starting at ₹15 crore.5-, and 5.5-BHK homes, with prices starting at ₹15 crore. The company said all the larger 5.5 BHK residences in the first phase were also sold out.
Swaranaya is being positioned as a collection of bespoke sky villas, featuring spacious interiors and layouts that balance shared family spaces with individual privacy. The project also plans to offer lifestyle and recreational facilities with support from global partners, along with hospitality-led services and security arrangements, the company said.
