Project Launch
KREEVA plans ₹1,100 crore luxury Swaranaya project in South Delhi
KREEVA, the real estate arm of Kanodia Group, plans to invest about ₹1,100 crore in Swaranaya, a luxury residential project of 114 sky villas near New Friends Colony in South Delhi. Construction is scheduled to begin in January 2027, with completion expected by 2031.
| Developer | KREEVA, the real estate arm of Kanodia Group |
|---|---|
| Announced | 28 October 2026 |
| Location | Mathura Road, near New Friends Colony, South Delhi |
| Land area | About 2 acres |
| Units | 114 sky villas |
| Total saleable area | About 5 lakh sq ft |
| Planned investment | About ₹1,100 crore |
| Entry price | From ₹15 crore per unit, as reported at launch |
| Construction start | January 2027 (scheduled) |
| Completion | Expected by 2031 |
What happened
On 28 October 2026, KREEVA announced that it plans to invest about ₹1,100 crore in Swaranaya, a luxury residential project in South Delhi. KREEVA CEO Mayank Jain said the company would invest around ₹1,100 crore in the project and had raised structured capital from ASK Group to partly finance it.
The announcement follows an earlier one. On 2 July 2026, KREEVA announced a South Delhi ultra-luxury residential project near New Friends Colony with total investment above ₹1,050 crore. The launch-stage reports give the investment as ₹1,100 crore and a January 2027 construction start, which is later than the August 2026 start mentioned in July coverage.
The project
Swaranaya is planned on about 2 acres with 114 units and a total saleable area of about 5 lakh sq ft. Configurations listed by the developer are 3.5, 4.5 and 5.5 BHK sky villas.
News reports place the project on Mathura Road. The developer's project page gives the address as Mathura Road, Near Modi Mill Flyover, New Friends Colony. Another listing describes the site as being in Ishwar Nagar, adjoining New Friends Colony.
Price and financing
News reports put the entry price at ₹15 crore per unit. The developer's project page lists starting prices from about ₹14.50 crore for the 3.5 BHK configuration, so buyers should confirm current pricing directly with the developer.
KREEVA says the build is partly financed through structured capital from ASK Group. Structured capital is generally a mix of debt and equity that supports land and construction costs. The project therefore carries a repayment obligation that KREEVA must meet through sales or project progress.
About the developer
KREEVA is the real estate arm of Kanodia Group, which also operates in cement, building solutions and media. Gautam Kanodia is the founder of KREEVA and Kanodia Group. Mayank Jain is CEO.
Swaranaya is KREEVA's second project. Its first, The Dualis in Sector 46, Gurugram, was developed with Shapoorji Pallonji Real Estate and ASK Property Fund. It launched in May 2025 with 198 units across two towers and a revenue target of ₹1,400 crore. In October 2024, Shapoorji Pallonji Real Estate also formed a joint venture with KREEVA for a residential project on a 1.75-acre parcel in Sector 46, Gurugram.
Location
New Friends Colony sits in South Delhi, with Ring Road, Mathura Road and the DND Flyway as its main connecting roads to Noida and Central Delhi. Ashram Chowk, where Mathura Road meets Ring Road and the DND Flyway, is nearby. Ashram metro station is about 2.1 km away, and Indira Gandhi International Airport is roughly 40 to 50 minutes by road.
What it means for buyers and investors
- Buyers: The completion timeline runs to 2031. Buyers should check the project's registration on the Delhi RERA portal before booking and review the payment schedule and possession terms in writing.
- Investors: The project depends on structured capital from ASK Group, so sales progress and debt repayment will be closely linked to delivery.
- Delhi market: The project is described as the group's first South Delhi luxury development, extending its portfolio from Gurugram into the national capital's premium segment.
Gautam Kanodia said homebuyers want better homes and greater accountability from developers, and that KREEVA must keep consistent standards as it expands. Mayank Jain said demand for luxury housing remains strong across Delhi-NCR. No regulator or government body has commented on the project in the reports reviewed.
What comes next
- Construction is scheduled to begin in January 2027.
- Completion is expected by 2031.
- KREEVA plans to expand across Delhi-NCR and selected tier II cities, including Lucknow and Chandigarh. No dates have been announced for these plans.
The next update is expected to cover construction progress, sales momentum and debt management.
Frequently asked questions
What is Kreeva Swaranaya?
Swaranaya is a luxury residential project by KREEVA, the real estate arm of Kanodia Group, planned on about 2 acres near New Friends Colony in South Delhi. It has 114 units and a total saleable area of about 5 lakh sq ft.
How much is KREEVA investing in the project?
KREEVA said on 28 October 2026 that it plans to invest about ₹1,100 crore in the project. It has raised structured capital from ASK Group to partly finance the build.
What is the starting price of Swaranaya?
News reports put the entry price at ₹15 crore per unit. The developer's project page lists starting prices from about ₹14.50 crore for the 3.5 BHK configuration.
When will Swaranaya be built?
Construction is scheduled to begin in January 2027, and completion is expected by 2031.
Where exactly is the project located?
News reports place it on Mathura Road in South Delhi. The developer's project page gives the address as Mathura Road, Near Modi Mill Flyover, New Friends Colony.
Is the project registered under RERA?
The news reports on the launch do not state a RERA registration number. Buyers should check the project's registration on the Delhi RERA portal before booking.