KREEVA, the real estate venture of the Kanodia Group, has successfully acquired a prime land parcel in South Delhi. The acquisition is backed by an investment of INR 260 crore from ASK Property Fund, part of the Blackstone-backed ASK Asset & Wealth Management Group.

The land, acquired from a leading conglomerate, is fully approved for a luxury vertical residential development. This transaction marks a significant collaboration between KREEVA and ASK Property Fund, combining industrial expertise with institutional financial backing.

The project spans approximately around 500,000 sq ft of prime residential space. Designed to address the needs of discerning homebuyers, the development will comprise spacious 3.5, 4.5 & 5.5 BHK apartments within a secure gated community, featuring an array of amenities. This landmark investment introduces a differentiated residential asset in a market dominated by independent floors, addressing rising demand for secure, amenity-led living in a prime Delhi market.

This acquisition is the second collaboration between KREEVA and ASK Property Fund, following their successful partnership in Gurugram.

Amit Bhagat, Co-founder, CEO & MD, ASK Property Fund, stated, “This is ASK’s first investment in a vertical residential project in Delhi, and we are excited to collaborate with KREEVA on this prestigious development. This investment marks a significant step in bringing a differentiated residential experience to South Delhi, where the market is primarily known for independent floors. Our partnership presents an exceptional opportunity for buyers interested in living within a gated community that provides lifestyle amenities right in the heart of Delhi.”

Bhavin Jain, CIO, ASK Property Fund, stated: KREEVA is an existing partner, and we are excited to partner with them for the second time for their upcoming project in South Delhi. We have long-term conviction on the NCR real estate market, given its economic depth and the structural expansion opportunity it provides over the next decade. Institutional capital providers like us would have significant opportunities to provide growth capital to developers for land acquisition. Our portfolio includes the acquisition of government auctioned land, high- value city-centric approved land acquisitions from corporates, etc. Current investment with Kreeva perfectly aligns with this investment philosophy.”

Dr. Gautam Kanodia, Founder, KREEVA and Kanodia Group, said, “Partnering with ASK Property Fund for the second time is a significant moment for us. This INR 260 crore investment is a strong vote of confidence in KREEVA’s vision to bring something truly different to the Delhi NCR market.

For a long time, the luxury segment here has been synonymous with independent floors, but we see a growing desire among families for the security and lifestyle that only a gated vertical community can offer. By securing this strategic land parcel, we’re able to create a space that doesn’t just offer four walls, but a modern, amenity-rich environment in the heart of the city.

Our goal is to blend the Kanodia Group’s industrial legacy with a fresh, sophisticated approach to urban living, and this project is a major step in that direction.”