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ASK Property Fund has committed INR 260 crore to a luxury residential project by Kreeva, the real estate platform of the Kanodia Group, in South Delhi. The investment supports the acquisition of a prime land parcel valued at about INR 350 crore and the development of a gated vertical housing project spread over nearly 500,000 sq ft. This marks ASK Property Fund's first vertical residential investment in Delhi. The project will offer large-format apartments and reflects rising institutional interest in premium housing within the city.
ASK Property Fund, the real estate investment arm of Blackstone-backed ASK Asset & Wealth Management Group, has invested INR 260 crore in a luxury housing project being developed by Kreeva in South Delhi. The funding is linked to Kreeva's acquisition of a prime land parcel valued at around INR 350 crore, where a high-end residential development is planned. Advertisement
The project is proposed to be spread across approximately 500,000 sq ft and will comprise large-format apartments, including 3.5 BHK, 4.5 BHK and 5.5 BHK units. The development is positioned as a gated vertical residential community, a format that remains limited in South Delhi, where independent floors have traditionally dominated the housing landscape.
This investment is ASK Property Fund's first exposure to a vertical residential project in Delhi. The fund's management has indicated that the decision is driven by growing demand among end-users for secure, well-managed residential communities offering shared amenities, which are less common in the city's premium residential zones. The National Capital Region, particularly central and south Delhi, continues to see constrained land availability, making such projects relatively rare.
ASK Property Fund has been active across residential, commercial and mixed-use segments and has raised a cumulative INR 8,900 crore since its inception in 2009. Its capital base includes family offices, ultra-high-net-worth individuals, high-net-worth individuals and institutional investors. In recent years, the fund has increasingly focused on structured investments that support land acquisition and early-stage development in high-value urban markets.
Kreeva, the real estate venture of the Kanodia Group, has previously partnered with ASK Property Fund on a residential project in Gurugram, where the investment size was close to INR 270 crore. That project was developed in collaboration with Shapoorji Pallonji Real Estate. The South Delhi development builds on this existing relationship and aligns with Kreeva's strategy of developing premium residential assets in select urban locations.
The Kanodia Group, which has its origins in the cement manufacturing sector, has diversified over time into building solutions, hygiene products, media and real estate. The group has outlined plans to invest more than INR 5,000 crore in the real estate sector over the coming years, with a focus on residential developments catering to higher-income buyers.
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