Published On:June 25 2024
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Krisumi Announces ₹2,000 Crore Investment for 1,051 New Luxury Homes in Gurugram

Krisumi Corporation, a luxury developer and joint venture between Krishna Group and Japan’s Sumitomo Corporation, announced on Monday its plans to invest ₹2,000 crore in developing 1,051 luxury homes and penthouses at Krisumi City in Gurugram's Sector 36A. This investment is in addition to the cost of land acquisition.

The development will include two projects spread across 5.88 acres, named "Waterside Residences III" and "Waterfall Suites II." These projects will feature four towers offering 1-BHK to 4-BHK luxury apartments and penthouses, ranging from 940 square feet to 10,316 square feet in size. The total developable or built-up area will span 2.3 million square feet, with an expected completion date set for December 2029.

Waterfall Suites II will offer apartments priced from ₹2.17 crore to ₹2.67 crore, along with penthouses starting at ₹25 crore. Waterside Residences III will feature homes ranging between ₹4.08 crore and ₹6.16 crore, with penthouses starting at ₹13.36 crore.

Vineet Nanda, Director of Sales and Marketing at Krisumi, noted the overwhelming interest, with 1,024 expressions of interest received in a single day. "We are currently in the process of selecting buyer profiles for allotment," he said, emphasizing a market trend towards larger luxury apartments post-pandemic. The company aims to achieve a total revenue of ₹4,000 crore from this project.

In addition to residential units, Krisumi plans to develop a state-of-the-art club spanning 2 acres, with a built-up area of approximately 160,000 square feet in Sector 36A. An investment of ₹350 crore will facilitate amenities such as indoor futsal, paddle, table tennis, badminton, basketball, cricket nets, and squash courts, all within a climate-controlled environment. The club will also include a gymnasium, steam rooms, saunas, spa facilities, heated indoor plunge pool, outdoor swimming pool, card room, library, business center, meeting rooms, and co-working spaces.

Krisumi City, an integrated township, is poised to redefine luxury living in Gurugram. Phase-I of the development, "Waterfall Residences," comprising 433 units, is nearing completion, while Phase-II, "Waterfall Suites," launched in May with 320 units, is slated for delivery by Q4 2028.

Mohit Jain, Managing Director of Krisumi Corporation, expressed their vision beyond real estate, aiming to deliver a 5-star lifestyle akin to hospitality standards at Krisumi City. Yuji Kato, Director and Co-CEO, affirmed their confidence in the Indian real estate market's potential, citing the success of previous phases and strong response to the new launch.

BS





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