ASK Property Fund invests Rs 260 crore in South Delhi luxury homes

ASK Property Fund, part of Blackstone-backed ASK Asset & Wealth Management Group, has invested Rs 260 crore into a luxury residential development being undertaken by Kreeva in South Delhi.

The transaction is associated with Kreeva’s acquisition of a high-value land parcel valued at approximately INR 350 crore on which a high-end residential community is planned. The project will consist of approximately 500,000 sq ft of large-format living units, providing several different configurations (3.5 BHK, 4.5 BHK and 5.5 BHK).

Key Highlights

• Rs 260 crore investment in Kreeva’s South Delhi luxury project
• 500,000 sq ft gated vertical residential development planned
• ASK’s first vertical housing investment in Delhi

As a gated vertical residential community, it represents a relatively new type of premium residential development within South Delhi, where independent floors have been historically used for high-quality housing.

This marks ASK Property Fund’s first investment in vertical residential developments within Delhi. With a significant rise in the number of end users in the city, the demand for high-quality housing in professionally managed residential communities with shared amenities is increasing — especially in the central and south portions of the city, where land scarcity is an issue.

Since its establishment in 2009, ASK Property Fund has raised Rs 8,900 crore across residential, commercial, and mixed-use asset classes from family offices, HNIs, UHNIs, and institutional investors.

Kreeva, the real estate division of the Kanodia Group, has an ongoing relationship with ASK Property Fund and had previously partnered with them on a project in Gurugram and intends to continue investing in premium urban residential development projects.