en.Wedoany.com Reported - Krisumi Corporation, a joint venture between Japan's Sumitomo Corporation and India's Krishna Group, recently commenced the construction of the fifth and sixth phases of its Gurugram Dwarka Expressway project. The company plans to invest an additional Rs 450 billion over the next seven years, bringing the total investment for this 33.5-acre residential development project to Rs 700 billion.
The new phase, named "Forest Reserve," will have a built-up area of approximately 1.67 million square feet and plans to construct 550 residential units. The unit types include spacious apartments ranging from 3,000 to 4,000 square feet, as well as premium penthouses of up to 6,000 square feet. According to financial projections, this phase is expected to generate sales revenue of around Rs 400 billion. Since the project's inception in 2019, the joint venture partners have already invested a cumulative Rs 250 billion.
Regarding delivery progress, the previously launched four phases, collectively known as "Waterfall Residences," comprise a total of 1,800 units. Currently, the first 120 homeowners have completed property transfer and taken occupancy, with 25% being Japanese nationals. Krisumi Chairman Ashok Kapoor confirmed that the company plans to complete construction of all 15 towers in the township by 2032.
The residential development project is designed by Japan's Nikken Sekkei. The plot is located in Sector 36-A, Gurugram, adjacent to the Global City on the Delhi-Mumbai Industrial Corridor. Market data shows that the project's price per square foot has increased from Rs 8,500 at the initial launch to the current Rs 24,000, with a rental yield of approximately Rs 100 per square foot.
Krisumi Corporation currently operates debt-free, and subsequent construction funding will rely entirely on internal fund accumulation. With the improvement of the transportation system between Delhi and Gurugram, this residential development project is establishing a premium advantage in the local high-end real estate market through Japanese construction management standards. The next step for the company is to proceed as planned with the construction of the "Forest Reserve" phase.
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