Sanjay Ghodawat Group (SGG) and Nordstar Estates have announced the launch of NEVORA, the consumer-facing brand of their newly formed joint venture, Ghodawat Nordstar Pvt. Ltd. Established through a 50:50 partnership, the venture will focus on developing premium residential and commercial projects across Mumbai, Bengaluru, and select high-growth micro-markets.
The joint venture is targeting a gross development value (GDV) of over ₹5,000 crore over the next three years, combining institutional investment practices with customer-centric real estate development.
Joint Venture to Focus on Premium Real Estate
NEVORA has been created to deliver institutional-grade residential and commercial developments aimed at the premium and ultra-high-net-worth segments.
The partnership combines Sanjay Ghodawat Group’s diversified expertise across aviation, FMCG, education, energy, retail, and real estate with Nordstar Estates’ experience in institutional capital management and large-scale real estate development in India and the United States.
The partners intend to develop projects centred on quality construction, transparency, sustainability, and technology-driven customer experiences.
Targeting High-Growth Markets
The joint venture will initially focus on premium residential and commercial developments across Mumbai and Bengaluru.
In Mumbai, NEVORA plans to develop projects across established locations in South Mumbai, Central Mumbai, the Western and Central Suburbs, along with emerging destinations such as Alibaug, Karjat, and Vasai.
In Bengaluru, the company will focus on established and emerging technology corridors, leveraging Nordstar Estates’ existing development footprint in the city.
These markets continue to witness strong demand for quality residential and commercial developments supported by growing urbanisation and investor interest.
Leadership Outlines Vision
Commenting on the launch, 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.”
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.”
Adding to this, 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.”
Positioned for India’s Growing Real Estate Market
The launch comes as India’s real estate sector continues to attract institutional investment and greater emphasis on governance, sustainability, and technology-led development.
With a planned development pipeline exceeding ₹5,000 crore, NEVORA aims to create premium residential and commercial destinations while contributing to the evolving urban landscape across India’s key metropolitan markets.
