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Six projects to be launched by Shapoorji Pallonji Realty
The real estate arm of Shapoorji Pallonji will be launching six projects across India by next year. According to reports, two of the six projects will be launched under their affordable homes brand Joyville. In terms of location, two or three projects will be in Mumbai, two in Pune and one will be developed in NCR. The official launch of one Joyville project in Virar in Mumbai is expected by October 2017 while launch of the second affordable housing development in Pune’s Hiinjewadi is set to be in March 2018. The group, at present, will reportedly not be raising funds for these realty projects; funds will be raised primarily through debt on a project-by -project basis. Shapoorji Pallonji’s investment of $250 million with International Finance Corporation (IFC) and Asian Development Bank (ADB) will be used for the purpose of buying land.