Pioneer Urban, in joint venture with JK Organisation’s real estate arm, will invest ₹300 crore to develop a luxury senior living project in Gurugram.
PioneerUrban Land and Infrastructure Ltd has forayed into luxury residential senior living space with the project ‘Advait’ in Gurugram for which it will be investing close to ₹300 crore. The project is a joint venture with the J K Organisation, under its real estate arm J K Urbanscapes Developers Ltd, (formerly J K Cotton Ltd), the company said in a statement on April 10.
Advait is the first IGBC platinum-certified project in Haryana to receive a license under the state’s retirement policy, with Pioneer JK Senior Living LLP, it said.
The project spans 2.6 acres and is backed by a significant investment of ₹300 crores in the heart of Gurugram, Advait is under construction and is expected to be inhabited by early 2027.
The project is located in Sector 50, Nirvana Country, with direct access from Golf Course Extension Road (GCER). The project features 18-storey towers housing 164 two-bedroom residences (2BHK + caretaker’s room).
PioneerUrban Land and Infrastructure Ltd. is a luxury real estate developer, with over three decades of experience in Gurugram, specialising in mini-townships, Grade A commercial spaces and large-scale residential projects.
Each apartment is equipped with a centralized air filtration system (TFA unit), ensuring a healthier living environment for the residents. Furthermore, ‘round the clock’ medical services will be provided by Fortis Hospital Gurugram within the project premises, the company said.
Manish Periwal, chairman and managing director, PioneerUrban, said, “We are proud to expand our presence in the Senior Living space with the launch of Advait. Our investment reaffirms our commitment towards creating exceptional luxurious living spaces. With a strong focus on sustainability, cutting-edge architecture, and resident-centric designs, we will continue to set new benchmarks in the uber-luxury real estate sector.”
Rakesh Bohra, Chief Operating Officer of PioneerUrban, said, “While the industry has traditionally been concentrated in Southern India (accounting for 40% of current inventory), we are now witnessing significant growth in other emerging regions, particularly in the North. Advait is a testament to this evolution, reflecting our keen vision to foster an ecosystem of exceptional real estate projects that cater to both present and future needs.”
Source: Hindustantimes.com