23 February 2024: Shubhashish Homes, a Jaipur-based real estate builder and developer announced that the firm has entered into a Purchase Agreement to purchase 2.2 acres of land in Jagatpura, Jaipur. Shubhashish Group is promoted by Mr. JK Jajoo who is the Chairman of the group.
Speaking on the acquisition, Mr Mohit Jajoo, CEO & Executive Director of Shubhashish Homes said “This acquisition marks our entry in Jagatpura, one of the fastest growing Micro-Market of Rajasthan. This is in line with our earlier announcement of Planned New Land Deals. We are in the advanced stages of closing 2 more land deals in 2024.”
He added “The sales potential from this project is expected to be approximately around ₹180 Crores & we plan to launch the same at the beginning of Q3, 2024 – 2025. “
This announcement follows the successful launch of their second big and luxury project, Shubhashish Prakash, which achieved an impressive 30% inventory booking on the first day. Additionally, their first initial big project, Shubhashish Geeta, is now 87% sold out, with plans to deliver the complete project covering approximately 7.1 Lac Sq Feet by 2025.
The cumulative sales booking potential for Shubhashish Homes Group from these three projects (including the Jagatpura Project) now stands at ₹675 Crores over the next 3-4 years. Looking ahead, the company aims to surpass ₹1100 Crores in sales over the same period.