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Joon Realty, a Gurugram-based real estate development company, has acquired a majority stake and development rights in the Joy City project in Jaipur, marking its expansion into the vacation-home and serviced-villa segment. The RERA-registered development (RAJ/P/2021/1563) is located along the Jaipur-Bhilwara corridor, one of the city's emerging second-home destinations.
Following the acquisition, the project has been rebranded as 'Adi Bagh', the second development under Joon Realty's Adi portfolio after Adi Grand in Jaipur. According to a company statement, the first phase of Adi Bagh will deliver 218 villas designed as part of a low-density residential development. With full control of the development now under its purview, Joon Realty is targeting to generate gross sales of around 210 crore. The company aims to make the property operational within six months The acquisition aligns with Joon Realty's 1,125 crore capital-expenditure commitment announced earlier this year, supporting its transition from land banking to full-scale luxury real-estate development across Jaipur, Udaipur, and Goa. "The acquisition of Joy City aligns with our strategy to scale presence across high-potential leisure and hospitality corridors," said Mohit Joon, Managing Director, Joon Realty. "We're seeing consistent demand for serviced villas and branded second homes, especially in well-connected destinations such as Jaipur. Our immediate priority is to deliver Phase I on schedule and establish operational excellence at the project." According to company information, located within a short drive from Jaipur city and the Delhi-Mumbai Expressway corridor, the project is positioned to benefit from improving infrastructure connectivity and growing investor interest in low-density second-home formats.. Market analysts indicate that Jaipur's leisure real estate segment has witnessed steady absorption in the post-pandemic period, driven by demand from urban buyers seeking lifestyle-led second homes. With the addition of Adi Bagh, Joon Realty strengthens its position in India's growing second-home and leisure real estate market, combining its execution capabilities with hospitality integration and a consumer-first design approach. According to company information, Joon Realty is a privately held Indian real estate development company headquartered in Gurugram. The firm leverages more than 30 years of group experience in land banking, engineering, and infrastructure to deliver design-forward residential and mixed-use communities. Joon Realty's current portfolio includes projects in Jaipur, Udaipur, Uttarakhand, and Goa, with a focus on wellness-oriented and hospitality-integrated living. The company's approach combines disciplined project execution with a commitment to architectural integrity and sustainable development practices. (ANI)
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