Krisumi Corporation on Monday 24 June announced their plans to invest Rs 2,000 crore for constructing 1,051 luxury apartments in Gurugram as a part of its expansion plan amid growing demand for residential properties. 

Krisumi Corporation is a joint venture between Japan’s Sumitomo Corporation and Krishna Group. 

The company is already developing a large luxury township ‘Krisumi City’ in Sector 36A, Gurugram. The first phase of this development is named ‘Waterfall Residences’ that comprises 433 units that are nearing completion. Whereas the second phased ‘Waterfall Suites’ comprises 320 units that are scheduled to be developed in 2028.

The company in its filing said that they will invest Rs 2,000 crore in Phase three and Phase four of its township, which will comprise of 1,051 units. This significant investment is in addition to the land cost. 

The funding of this project will come from a mix of internal accruals, sales proceeds, and equity contributions. 

Mohit Jain, Managing Director, Krisumi Corporation, said, “We have redefined luxury in Gurugram’s housing market by bringing high-end living into smaller sizes, a rarity in the NCR region. At Krisumi, we see ourselves not just as a real estate company but as a hospitality company aiming to deliver a 5-star lifestyle to the residents of Krisumi City.”

Furthermore, the company will also develop a state-of-the-art club over 2 acres, with a built-up area of around 1,60,000 square feet in the township, for a total investment of Rs 350 crore.