Business · India Bureau
KW Group acquires Ghaziabad land for ₹134 crore luxury housing project
Real estate developer KW Group has purchased 1.5 acres of freehold land in Ghaziabad's Indirapuram locality for ₹133.98 crore through an auction. The acquisition marks a significant entry into the ultra-luxury residential segment in the National Capital Region.
LSN India ·
KW Group announced Thursday that it has secured the Ghaziabad property through a competitive auction process conducted by the local development authority. The company plans to develop an ultra-luxury residential complex on the site with a total development potential of approximately 5 lakh square feet.
The project has attracted backing from ASK Property Fund, the real estate investment arm of Blackstone-affiliated ASK Asset & Wealth Management Group, which has committed ₹150 crore to the venture. The fund's participation underscores growing investor confidence in the National Capital Region's residential market.
Pankaj Kumar Jain, Director of KW Group, highlighted a significant market opportunity in the region. According to the company, Ghaziabad currently has limited luxury housing options despite robust demand from affluent buyers seeking premium residential properties in proximity to Delhi.
The developer's 27-year track record in real estate execution has positioned it favorably to capitalize on this gap in the market. The project is expected to cater to high-end homebuyers seeking contemporary luxury amenities and architectural excellence in the satellite city.