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Kanodia Group, a distinguished business conglomerate, has made a significant stride into the real estate market with the acquisition of a prime land parcel in Gurgaon. The 1.74-acre land, located in Sector 46, Gurgaon, has been acquired for approximately INR 153 crore.

The location of the acquired land is considered prime due to its proximity to key landmarks and facilities. Situated in Sector 46, Gurgaon, the site is part of an established residential micro-market known for its premium housing options. On this land, the company has planned a project of uber luxury, offering best-in-class facilities and amenities, setting new standards of true luxury in terms of planning, design, and architecture.

Commenting on the acquisition, Mr. Gautam Kanodia, Co-Founder of Kanodia Group said, "This acquisition marks our entry into the thriving luxury residential space in the NCR market. We aim to extend our 25 years of legacy in setting new standards of quality in terms of product and service delivery for our valued customers. This acquisition is the first step in our journey to establish ourselves as one of the leading professionally run real estate outfits in the country."

He added that the true essence of luxury is exemplified by the rarity of its existence, and that’s what Kanodia Group strives to achieve. "We plan to generate revenue in excess of INR 1000 crore from this project. The project is scheduled to be launched by the end of this year and is expected to be completed within 48 to 60 months," said Mr. Kanodia.

In addition, the acquired land by Kanodia Group is conveniently located near Medanta Hospital and Huda City Center Metro station. Furthermore, a premium mixed-use project is also under development by IKEA in close proximity to this land.

With a legacy of 25 years, Kanodia Group aspires to build an agile and dynamic brand with deep-rooted ethos. The company intends to bring in the best-in-class industry leaders and provide them with the platform to leverage their know-how to materialize their vision for the brand to offer homebuyers the best in the industry.

"We see the luxury residential space continuing to drive growth in the real estate sector in NCR, and we are here to offer the best experience to contemporary Indians," said Mr. Kanodia while deliberating on the future of luxury real estate in NCR.

Meanwhile, Kanodia Group aims to emerge as one of the leading professionally run real estate outfits in the region with its upcoming projects. The Group has committed to investing more than INR 5000 crore in the industry over the next 5-7 years with its commitment to launching a series of real estate projects with a global outlook.