Kreeva plans ₹5,000 crore spend on luxury projects after Swaranaya sales

Kreeva, the real estate arm of the Kanodia Group, plans to spend ₹5,000 crore over the next four to five years on land acquisition and development of new luxury residential projects. The plan was reported on 27 October 2026. The company said its expansion will focus on Delhi-NCR, specifically the Southern Peripheral Road corridor in Gurugram, and on Chandigarh and Lucknow.

Swaranaya sales and the conflicting figures

The company reported ₹800 crore of sales from Swaranaya, its South Delhi luxury project, on the launch day. Other reports put the figure at ₹750 crore to ₹800 crore. The project has 114 homes across 3.5, 4.5 and 5.5 BHK configurations, priced from ₹15 crore per unit, and is located near New Friends Colony.

Reports also differ on how much of the first phase has sold. One report said 40% of first-phase units were committed. Another said all residences offered in the first phase were fully booked. The project is valued at ₹1,100 crore on two acres in one report and at ₹1,050 crore in a developer-site note. It is funded through structured capital from the ASK Group, with completion targeted for 2031.

Gurugram and Sector 46 projects

Kreeva has signed a joint development agreement for a 3-acre parcel on Southern Peripheral Road for a multigenerational residential project. The company plans about 200 housing units with a total built-up area of around 5.5 lakh sq ft, and intends to invest between ₹350 crore and ₹400 crore. The project was expected to start toward the end of the first quarter of FY27. It has not been launched, and no RERA registration number, price band or possession date has been reported.

Separately, Shapoorji Pallonji Real Estate formed a joint venture with Kreeva in July 2025 to develop a luxury residential project across 1.74 acres in Sector 46, Gurugram. Dr Gautam Kanodia, Founder of Kreeva and the Kanodia Group, said the launch response had strengthened the company's confidence in its luxury housing strategy.

What it means for investors

The ₹5,000 crore figure is a capital commitment, not a list of projects. Apart from the Southern Peripheral Road parcel and the Sector 46 joint venture, no new land parcels were named. A 2024-era report had said the group would invest more than ₹5,000 crore over five to seven years, a longer window than the current four-to-five-year timeline.

One analysis said the company's capital allocation, and whether it can sustain the sales momentum seen in South Delhi, will be critical for observers. The same analysis said expansion into Chandigarh and Lucknow will require delivery and quality standards to hold across different markets. No completed Kreeva project was identified in the reports reviewed.

On infrastructure, the Gurugram Metropolitan Development Authority has announced a 4.2 km signal-free elevated corridor along Southern Peripheral Road from Vatika Chowk to National Highway 48, and is finalising a ₹750 crore elevated road linking Vatika Chowk to the Dwarka Expressway cloverleaf. No completion dates for either were reported. Reports give the length of the road as 14.3 km in one case and about 16 km in another.

What to watch

• Whether the Southern Peripheral Road project is launched and registered under RERA, and when work starts.
• Official sales figures for the Swaranaya phases, to settle the 40% and fully booked reports.
• Launch dates for Chandigarh and Lucknow, which have not been announced.
• Progress on the GMDA elevated corridor from Vatika Chowk to NH-48, for which no completion date has been given.