Hiranandani Group to invest Rs 1000 crore in Mumbai
April 15, 2023: To tap into the increasing demand for mid and luxury homes in the Panvel realty market, Hiranandani Communities has announced its plan to invest Rs 1,000 crore in developing a new housing project in Mumbai.
Hiranandani Group, one of India’s leading real estate developers, has announced its plans to invest Rs 1,000 crore to develop a new housing project in Mumbai.
The project will be located in the prime locality of Thane, Mumbai and is expected to be completed within the next four years.
The project, which will span over 11 acres, will include residential towers, commercial spaces, and retail areas.
The company aims to build around 1,000 apartments with state-of-the-art amenities and world-class infrastructure.
Dr. Niranjan Hiranandani, Managing Director of Hiranandani Group, stated that the new project is in line with the company’s commitment to developing sustainable and eco-friendly communities.
He added that the project will contribute to the growth of the local economy by creating employment opportunities for the people of Mumbai.
The Thane locality is already home to some of Hiranandani Group’s successful projects, including Hiranandani Estate and Hiranandani Meadows.
The group’s decision to invest in Thane is a testament to the area’s potential as a thriving residential and commercial hub.
The Hiranandani Group is known for its iconic real estate projects, including Hiranandani Gardens in Powai, Mumbai.
With the announcement of the new housing project in Thane, the group is set to further strengthen its position as a leading developer in the Indian real estate market.
The realty firm has launched ‘Golden Willow’ in its mixed-use integrated township, ‘Hiranandani Fortune City’ at Panvel.
The project will offer 1 million square feet of residential space, consisting of approximately 700 units with apartment sizes ranging between 490 sq ft to 1,150 sq ft of carpet area.
According to the company’s statement released on Thursday, the investment will be utilized to build the new housing project.
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