Shapoorji Pallonji Real Estate, which hasn’t launched a project since June, also plans to launch 6-7 housing projects between November and March, including three projects under Joyville Shapoorji Housing Pvt. Ltd, besides four premium projects in Mumbai, Pune and Kolkata.
Under Joyville, the Mumbai-based firm plans to acquire 3-4 land parcels within the next six months, which will give its mid-income housing platform1
a deeper pan-India presence. Each land parcel will have 1.5-2 million sq. ft of development potential.
- 1. Even as overall residential sales remain tepid, mid-income homes costing up to ₹50 lakh, or so, have been the sweet spot for builders and buyers alike, with rising demand in this price category, aided by benefits under the goods and services tax (GST), and the government’s aim to provide housing for all. An increasing number of property developers are looking to tap into the so-called affordable housing segment because of high demand and decent profit margins.