Gurugram (Haryana) [India], November 5 : 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.
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