The joint venture, named Sahara Turner Construction Ltd, is to undertake building work in India, for the Sahara group and elsewhere.
The construction volume of Sahara Prime City is expected to reach $25 billion (Rs 12.5 lakh crore) in the next 20 years, with projects worth $2.5 bn (Rs 12,250 crore) in the next five years.
The JV company will be the preferred contractor, Sahara said on Thursday.
"Sahara Turner Constru-ction will also pursue third-party projects and aim to be a leading, multi-product, integrated construction services company, covering the life cycle of building infrastructure and real estate projects," the group said.
The JV company plans to develop and own infrastructure projects using the experience of Turner, part of the Acropolis Capital group and with experience of 110 years.
Subrata Roy Sahara, chairman, Sahara India, said, "This joint venture is the coming together of people who believe in providing the best available international quality and technology to India."