Kreeva plans ₹1,100 crore luxury sky-villa project in New Friends Colony
The 114-unit Swaranaya project in South Delhi is the developer's second, and its funding leans on structured capital with a 2031 completion target.
Key points
- Kreeva, the real estate arm of Kanodia Group, plans to invest about ₹1,100 crore in Swaranaya, a 114-unit luxury project in South Delhi.
- Homes are 3.5, 4.5 and 5.5 BHK sky villas. Entry prices are reported at about ₹15 crore per unit.
- Construction is scheduled to begin in January 2027, with completion targeted for 2031.
- Part of the build is financed through structured capital from ASK Group, which must be repaid through sales or project progress.
Kreeva, the real estate arm of Kanodia Group, plans to invest about ₹1,100 crore in Swaranaya, a luxury residential project in South Delhi, the company announced on 28 October 2026. The project is on Mathura Road, near New Friends Colony. The company's own project page gives the address as near the Modi Mill Flyover in New Friends Colony, while some listings place it in Ishwar Nagar, next to the colony.
The site covers about 2 acres and will have 114 sky villas, with a total saleable area of about 5 lakh sq ft. Homes come in 3.5, 4.5 and 5.5 BHK configurations. Launch reports put entry prices at ₹15 crore per unit, while the company's project page lists starting prices from about ₹14.50 crore for the 3.5 BHK. Buyers comparing the two should confirm the current price sheet directly with the developer.
How the project is being funded
Kreeva CEO Mayank Jain said the company would invest around ₹1,100 crore in the project and had raised structured capital from ASK Group to partly finance it. Structured capital usually mixes debt and equity to cover land and construction costs. That kind of funding carries a repayment obligation, which the developer will need to meet through sales or construction progress.
The project has a history of its own timeline. In July 2026, Kreeva announced an ultra-luxury residential project near New Friends Colony with total investment above ₹1,050 crore, and construction was then expected to start by the end of August 2026. The latest announcement moves the construction start to January 2027, with completion expected by 2031. Buyers should plan around the later dates.
Location and access
New Friends Colony is linked to Noida and Central Delhi by Ring Road, Mathura Road and the DND Flyway. Ashram Chowk, where Mathura Road meets Ring Road and the DND Flyway, is a key junction nearby. Ashram metro station is about 2.1 km away, and Sukhdev Vihar is also close by. Indira Gandhi International Airport is about 40 to 50 minutes away by road. Delhi Metro Phase 4 is expected to add public transport options in the area, but no completion date for it was found in the reports reviewed.
Mayank Jain said demand for luxury housing remains strong across Delhi-NCR. Founder Gautam Kanodia said homebuyers want better homes and greater accountability from developers, and that Kreeva must keep consistent standards as it expands.
Swaranaya is Kreeva's second project. Its first, The Dualis in Sector 46, Gurugram, was launched in May 2025 with 198 units across two towers. That project was developed with Shapoorji Pallonji Real Estate and ASK Property Fund, with a revenue target of ₹1,400 crore.
What buyers should do next
The next milestones are the construction start in January 2027 and completion targeted for 2031. Kreeva has also said it plans to expand across Delhi-NCR and selected tier II cities, including Lucknow and Chandigarh, but it has not given dates for those projects.
- Check the project's RERA registration on the Delhi RERA portal before booking.
- Compare the current price sheet with the starting prices quoted in launch reports.
- Read the payment plan and possession terms against the 2031 completion target.
- Track construction progress from January 2027 as the first test of the timeline.
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