Ashiana Homes, Delhi-based realty player, has formed a joint venture with Landcraft Projects to execute a residential project in Gurgaon.

The 50:50 JV will implement the project 'Center Court' worth Rs 600 crore. However, the amount to be invested by Landcraft is not known. The JV company plans to commence construction work for the project from April 2014 with completion scheduled for June 2017. The project, spread across 14 acre, will have 750 units. The company has already acquired land for the project.

Further, the JV will undertake the construction work in-house, but has tied up with Singapore-based Belt Collins International for a landscape architect.

Recently, Ashiana had received Rs 180 crore funding from two private equity players - Indareit Domestic fund and Financial Institution India Infoline (IIFL) - for the project. The balance will be funded through a mix of debt and equity.