Diversified Shapoorji Pallonji group’s real estate arm is lining up at least six projects across the country in 2017-18, with two in the affordable housing segment, a senior company official said.
“We plan to launch at least six projects this financial year. Out of these, we would be developing two projects under our ‘Joyville’ brand to build affordable homes,” Shapoorji Pallonji Real Estate Chief Executive Venkatesh Gopalakrishnan told the news agency here.
Of the six, 2-3 projects are being planned to come up in the megapolis, two in Pune and one in the National Capital Region (NCR), he said, adding that the company already has 40 million sq ft land bank across the country.
“We will be officially launching our affordable housing project in Virar by September-October. The second project under the Joyville brand at Hinjewadi in Pune will be launched by March 2018,” Gopalakrishnan said.
The SP Group entered the affordable housing segment last year by joining hands with Standard Chartered Private Equity, International Finance Corporation (IFC), an arm of the World Bank, and ADB.