Krisumi Group to Invest Rs 2,000 Crore in 1,051 Luxury Apartments in Gurugram

Krisumi Corporation, a joint venture between Krishna Group and Japan's Sumitomo Corporation, has announced a significant investment of Rs 2,000 crore to develop 1,051 luxury apartments in Gurugram. This expansion comes as part of the company's strategy to meet the robust demand for residential properties in the region.

The development is part of Krisumi City's ongoing project in Sector 36A, Gurugram, a large luxury township that has already seen substantial progress. The first phase, known as 'Waterfall Residences', is nearing completion with 433 units, while the second phase, 'Waterfall Suites', consisting of 320 units, is set for delivery in 2028.

In its latest announcement, Krisumi Corporation stated that the Rs 2,000 crore investment would be allocated to Phase 3 and Phase 4 of the township, adding 1,051 luxury units to the project. This investment is exclusive of the land cost, highlighting the scale and ambition of the development.

The project spans a total developable area of 2.3 million square feet. In addition to the residential units, Krisumi plans to develop a state-of-the-art club over 2 acres, with a built-up area of about 1,60,000 square feet, at an additional cost of Rs 350 crore. This club aims to provide residents with a range of luxury amenities, reinforcing Krisumi's commitment to delivering a 5-star lifestyle.

Mohit Jain, Managing Director of Krisumi Corporation, remarked, "We have redefined luxury in Gurugram's housing market by bringing high-end living into smaller sizes, a rarity in the NCR region. 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."

Vineet Nanda, Director of Sales and Marketing at Krisumi Corporation, noted a significant shift towards larger, luxury apartments post-pandemic. "The current market trends show a significant shift towards larger, luxury apartments post-pandemic. We are confident of achieving a total revenue realisation of Rs 4,000 crore," he said.

The funding for this expansive project will be sourced from a mix of equity contributions, sales proceeds, and internal accruals. Construction activities commenced last month, with the entire project scheduled for completion by December 2029.

Yuji Kato, Director and Co-CEO of Krisumi Corporation, emphasized the success of previous phases and the strong response to the new launch. "Our partnership with Krishna Group reflects our shared vision of creating world-class living spaces in India. 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," he stated.

Krisumi Corporation's ambitious project is set to elevate the standard of luxury living in Gurugram, reflecting both the company’s commitment to quality and the growing demand for premium housing in the region.