Krisumi - A joint venture of Indo Japanese real estate to deliver 433 housing units in Gurgaon by 2024

Indo Japanese real estate venture Krisumi is all set to deliver 433 housing units in Gurgaon, India by 2024. Krisumi is the fifty fifty joint venture between Japan's Fortune 500 company Sumitomo Corporation, and the Krishna Group in India. It is currently developing a 30-acre project of its 65-acre land parcel in Gurgaon. Read on all the exclusive details on Surfaces Reporter (SR).

"The first phase comprising 433 units, including a 36,000 sq ft clubhouse, is expected to be delivered by 2024, the company’s co-CEO and director", Takahiro Yamazaki told Moneycontrol.

"While Towers A and B comprise 239 units, Tower C will consist of 194 units spread across 34 floors of which the top six floors would be reserved for limited edition fully-furnished apartments targeted specifically towards the expatriate community," he added.

Takahiro Yamazaki also said, "We are hoping to cater to a huge demand for an ex-pat specific product that does not exist in the market so far. Our target audience is expected to be senior management personnel in the age group of 35 years to 60 years from Japanese automobile companies as also Japanese IT firms located in Delhi-NCR. We may also decide to provide Japanese food on campus."

The total revenue potential of Krisumi city is 2 billion Dollars. The first phase of the development include three towers with 433 apartments (2, 3 bedroom and penthouses).

Akash Khurana, CEO, Krisumi Corporation said, "The final investment will depend on the choice of the components utilised for the project and how things move forward over the next 10 to 15 years."

"We have stringent penalties included as part of our contract with Tata Projects, our construction partner. We have factored in stoppages in our schedule. We will be completing all 433 units that are part of Phase 1 by June 2024," he added.

Akash Khurana also said, "The architecture, landscape planning and the interior design for our first phase called Waterfall Residences have been done by the Japanese design firm. We have retained them not only for the concept design but for the detailed plan."

“We might include a fair bit of commercial in the next phase. Since the project falls under the transit-oriented development scheme, we are allowed to use almost 30 per cent of the FSI for commercial. Once we finalise the product mix for subsequent phases, we will start getting the designing done,” he told Moneycontrol.


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