Sanjay Ghodawat Group and Nordstar Estates Launch Joint Venture Targeting INR 5,000 Crore GDV
New Delhi / Mumbai, July 17, 2026: Diversified Indian conglomerate Sanjay Ghodawat Group (SGG) has announced a strategic partnership with Nordstar Estates (Nordstar) to launch a new institutional real estate development platform named Ghodawat Nordstar Pvt. Ltd. Operating under the consumer-facing brand “NEVORA,” the joint venture aims to develop high-end residential and commercial projects across Mumbai and Bengaluru, targeting a Gross Development Value (GDV) of over Rs 5,000 crores within the next three years, Sanjay Ghodawat Group said in a press release.
The new entity marks SGG’s major expansion into the premium and ultra-high-net-worth individual (ultra-HNI) real estate segment. The venture combines SGG’s extensive financial strength and cross-sector operational expertise across aviation, FMCG, education, energy, retail, and real estate, with Nordstar’s established track record in institutional capital management and large-scale real estate development in India and the United States.
The launch aligns with a massive growth trajectory in India’s property market, which is projected to expand from USD 650 billion in 2025 to USD 5.8 trillion by 2047, according to data from a FICCI-KPMG report. The joint venture is positioned to capture this market shift as the industry increasingly leans toward institutional capital, advanced technology adoption, and higher governance standards.
Shrenik Ghodawat, Managing Director, Sanjay Ghodawat Group, said, “India’s real estate sector is at an inflection point. Buyers today demand more than just location; they expect quality, transparency, and a seamless experience from enquiry to handover. Through this partnership, we are committed to delivering assets that are not just built to last but crafted to elevate urban living. Our focus on responsible development, energy efficiency, and technology-driven solutions reflects our vision for the future of Indian real estate.”
The leadership team emphasized that the joint venture’s foundational strategy will center on rigorous corporate governance, premium construction standards, and precision underwriting. The partners plan to officially unveil the specialized consumer-facing brand identity for NEVORA in the coming months as individual project developments are rolled out.
Dhruv Dua, Co-Founder, Nordstar Estates, said, “This platform is built on the principles of strong financial discipline, development excellence, and a customer-centric approach. By bringing together proven expertise in land acquisition and society redevelopment, institutional capital deployment, and large-scale development management, we are uniquely equipped to address the needs of India’s evolving urban landscape.”
Sharab Reddy, Co-Founder, Nordstar Estates, said, “Our approach starts with disciplined land acquisition and rigorous underwriting – the foundation for every project we take on. Partnering with SGG gives us the scale and local depth to bring that discipline to two of India’s most dynamic markets, Mumbai and Bengaluru. Our goal is to create communities with identity and assets that endure well beyond possession.”
The developmental pipeline for Ghodawat Nordstar Pvt. Ltd. focuses on high-demand, high-absorption corridors. In Mumbai, the company is targeting premium apartments and commercial assets spanning South and Central Mumbai, the Western and Central Suburbs, and fast-growing lifestyle destinations such as Alibaug, Karjat, and Vasai. In Bengaluru, the platform will leverage Nordstar’s existing regional execution footprint to focus heavily on the city’s established and emerging tech corridors.
