ASK Property Fund joins Shapoorji Pallonji & KREEVA JV for Sector 46 Gurugram luxury project
Institutional Capital Anchors Sector 46 Luxury Play
ASK Property Fund, KREEVA, and Shapoorji Pallonji Real Estate have announced a joint investment of over ₹270 crores in a luxury housing project in Sector 46, Gurugram. Initially launched as a collaboration between Shapoorji Pallonji and KREEVA in October, the project now includes ASK Property Fund as a key investment partner, enhancing financial support and driving the development forward.
Scale and Revenue Projection
Spread across 1.74 acres, the project is located in Sector 46, an area known for its strong residential market. The project is expected to generate revenues of over ₹1,200 crores in the next five years.
The Dualis: Unit Mix and Heights
Shapoorji Pallonji Real Estate, Kreeva, and ASK Property Fund have launched The Dualis in Sector 46, Gurugram with 198 high-end units and a revenue target of ₹1,400 crore. The project features two towers with 198 luxurious 3- and 4-BHK residences, with saleable areas ranging from 2,850 to 3,600 square feet (sq ft), and 60,000 sq ft of amenity space. Towering approximately 150 metres, The Dualis will be among the tallest residential towers in the area.
Strategic Location and Connectivity
The location benefits from its proximity to major job hubs and developed social infrastructure, making it attractive for potential homebuyers. The project is close to Medanta Hospital and HUDA City Center Metro Station, making it an ideal choice for both homebuyers and investors looking for premium urban living in NCR. An IKEA mixed-use development is under construction nearby, enhancing the area's investment appeal.
Shapoorji Pallonji's NCR Expansion
With a development potential of over 142 million square feet, SPRE has made inroads into most Indian cities—Mumbai, Pune, Bangalore, Gurugram, and Kolkata. This is SPRE's second project in the Gurugram market, following the launch of Joyville Gurugram in Sector 102.
Developer and Investor Statements
Mr. Venkatesh Gopalakrishnan, Director, Group Promoter's Office, MD & CEO of Shapoorji Pallonji Real Estate, stated: "Our collaboration with KREEVA and ASK Property Fund for the Sector 46 project in Gurugram underscores our commitment to delivering high-quality residential developments that meet the evolving needs of discerning customers. This partnership leverages our collective expertise to set new benchmarks in luxury living within the Delhi-NCR region."
Bhavin Jain, CIO of ASK Property Fund, said: "We recognise the project's exceptional revenue potential due to its prime location within an established catchment area. With significant equity from Kreeva and partnership with Shapoorji Pallonji Real Estate, this project effectively minimises risk, making it a compelling investment opportunity for us."
About ASK Property Fund
ASK PIA has raised ₹9,500 crore since 2009 and has invested in projects spanning 73 million square feet. In FY26, ASK Property Fund committed ₹2,100 crore across projects with developers including Mantra Group, Shapoorji Pallonji in Gurugram and Mumbai, Gami Developers in Navi Mumbai, Satya in Gurugram, and KREEVA in South Delhi.