Shapoorji Pallonji Real Estate Targets ₹1,400 Crore Sales from Gurugram Luxury Housing Project ‘The Dualis’

Shapoorji Pallonji Real Estate in collaboration with KREEVA and ASK Property Fund, has launched a luxury residential project in Sector 46, Gurugram, with an estimated revenue potential of ₹1,400 crore over the next five years. The launch marks Shapoorji Pallonji Real Estate’s second foray into the Gurugram market, following its earlier project Joyville Gurugram in Sector 102.

The newly launched project, The Dualis, is being developed on a 1.75-acre parcel and features two residential towers with a height of around 150 metres each. The development will offer 198 apartments, with unit sizes ranging from 2,850 to 3,600 square feet. The configuration and pricing details are expected to cater to high-end buyers looking for expansive and well-located homes in the city’s core urban area.

Shapoorji Pallonji Real Estate stated that the project is part of its broader strategy to tap into the rising demand in the luxury residential segment across major Indian cities. The company has been witnessing sustained traction in metropolitan housing markets, driven by increasing consumer interest in larger homes, enhanced amenities, and integrated community living.

The project is being developed through a joint venture with KREEVA, the real estate arm of the Kanodia Group, and ASK Property Fund, an institutional investor in the real estate sector. The collaboration combines institutional capital, local development knowledge, and execution capability.

Sriram Mahadevan, CEO of Shapoorji Pallonji Real Estate and Managing Director of Joyville Shapoorji Housing, noted that The Dualis represents the company's strategic entry into a promising micro-market. The project has been designed to offer a balanced blend of location advantages, development scale, and construction quality. According to him, the initiative is part of a long-term approach to luxury housing in Gurugram, supported by partners who are aligned with the vision of delivering value and ensuring timely execution.

Similarly, Mayank Jain, CEO of KREEVA, emphasized that the collaboration with Shapoorji Pallonji Real Estate and ASK Property Fund underscores a shared confidence in the investment potential of the project's location and the overall growth trajectory of the Gurugram residential market.

Sector 46, the project location, is part of central Gurugram and is well connected to commercial hubs, healthcare facilities, and premium educational institutions. Its proximity to the HUDA City Centre Metro Station, NH-48, and business districts makes it a sought-after destination for high-income homebuyers.

The launch of The Dualis follows recent high-profile developments in Gurugram’s luxury housing segment. Projects like the Trump Residences have seen rapid absorption, indicating strong demand for premium branded and high-specification residences. The overall outlook for the city’s real estate market remains strong, backed by a stable economy and positive consumer sentiment.

With this launch,Shapoorji Pallonji Real Estate further strengthens its position in the NCR market. The company currently has a development portfolio of over 142 million square feet across cities including Mumbai, Pune, Bengaluru, Gurugram, and Kolkata. Shapoorji Pallonji Real Estate is a part of the diversified Shapoorji Pallonji Group, with interests spanning construction, infrastructure, and real estate.

The Kanodia Group, which has partnered on the project through its real estate venture KREEVA, operates across multiple sectors such as cement, building solutions, media, and real estate. Through this joint venture, KREEVA is expanding its footprint in the luxury residential space with the support of experienced partners and institutional capital.