Joon Realty, a Gurugram-based real-estate developer, has acquired majority development rights of the Joy City project in Jaipur and rebranded it as Adi Bagh. The development is registered under RERA number RAJ/P/2021/1563 along the Jaipur-Bhilwara corridor, a growing destination for second-homes. The first phase of Adi Bagh will offer 218 villas in a low-density layout. Joon Realty is targeting gross sales of around Rs 2.1 billion and expects to make the project operational within six months. This acquisition supports Joon Realty’s strategic shift from land-banking to full-scale luxury residential and leisure-home development across key locations such as Jaipur, Udaipur and Goa. The move aligns with the firm’s earlier commitment of Rs 11.25 billion in capital expenditure. “ The acquisition of Joy City aligns with our strategy to scale presence across high-potential leisure and hospitality corridors,” said Mohit Joon, Managing Director, Joon Realty. “We’re seeing consistent demand for serviced villas and branded second homes, especially in well-connected destinations such as Jaipur. Our immediate priority is to deliver Phase I on schedule and establish operational excellence at the project.” Context & SignificanceThe Jaipur-Bhilwara corridor is gaining traction among urban buyers seeking lifestyle-oriented second homes, driven by improved connectivity and wellness-led living formats. With this project, Joon Realty strengthens its foothold in the growing ‘second-home’ and leisure real-estate segment, combining hospitality-integrated design with residential development.The move signals increased investor interest and execution-capability focus by developers as the luxury/leisure home market recovers post-pandemic.OutlookJoon Realty’s immediate focus will be on launching Phase I of Adi Bagh and achieving timely completion to capture demand. Medium-term, the company aims to leverage its portfolio across destinations and build on branded villa offerings.