Dr. Niranjan Hiranandani on the Future of India's Real Estate and Economic Growth
Dr. Niranjan Hiranandani, Co-Founder & Managing Director of Hiranandani Group, shares insights on the real estate market, India's growth story, and the importance of emotional investment in building homes.
Real EstateIndiaEconomic GrowthHiranandani GroupProperty InvestmentReal EstateAug 11, 2025
Dr. Hiranandani, a visionary who has redefined city skylines and created entire geographies, believes that while business is often seen as a game for the head, real estate demands emotion. “When we’re creating homes for people, builders must put their heart into it,” he emphasizes. This emotional connection is crucial in ensuring that the homes built are not just spaces to live in, but spaces that bring happiness and comfort to their inhabitants.
According to Dr. Hiranandani, India’s real estate sector is currently on a strong growth path. With the economy growing at a steady rate of 6-7%, infrastructure investment has become the backbone of job creation, which in turn fuels the entire ecosystem. “If we invest in real estate, it helps generate employment across the country,” he points out. This investment not only creates jobs but also contributes to the overall economic development of the nation.
Dr. Hiranandani’s journey into the real estate sector was far from straightforward. Coming from a family of doctors, with his father being one of the country’s top ENT specialists, he was trained as a Chartered Accountant and even taught in a CA school. “Nobody in my family was sure about me doing business, but I had one aspiration: to become a builder and create homes that are not just spaces to live in, but spaces that make people happy. I started with a dream, really,” he recalls.
When he started out, the challenges were numerous. Borrowing from banks was more difficult than it is today, but this did not deter him. Today, he strongly advises young buyers to consider purchasing property, even with a small loan, rather than renting. “When we are old, we cannot afford to build the home of our dreams. In India, we don’t have social security. Owning a home becomes a crucial investment for the future,” he explains. In essence, owning a home is a safety net.
Speaking about his son Darshan’s achievements, Dr. Hiranandani beams with pride. Darshan built 23 Marina, once India’s tallest building and now the second tallest. “I told him, this is the tallest building, how will you make it? Nobody has done anything like this before. He replied, ‘Which is why I want to build it.’” The proud father also spoke about the two-way learning process between him and his son.
Adding on the different aspects of his business, Dr. Hiranandani emphasized five new properties across Mumbai and the newest one in Alibaug. These properties represent a continued commitment to quality and innovation in the real estate sector.
Moving on to broader investment trends, Dr. Hiranandani notes that many Indians are moving to Dubai, attracted by tax advantages and the allure of a desirable second home destination. However, he remains optimistic about India’s prospects. “We might look like we are struggling at times from an outsider’s perspective, but we are in fact the fastest-growing economy. By 2047, I believe we can be the top economy in the world. India has a beautiful growth story,” he states.
He is clear about what drives real estate growth in any country: opportunities, infrastructure, and public welfare. “India needs to focus on what we need to do, rather than what others think of us,” he says, citing issues like eradicating slums, providing water for all, and creating opportunities as key priorities.
Interestingly, the Hiranandani Group’s original vision was to create quality housing for the lower middle class, but the quality of work ended up attracting wealthy buyers, elevating the brand into the premium segment. “We wanted to make it available for everyone… but the richer buyers liked it too, and my properties became premium,” he reflects.
Looking ahead, Hyderabad is on his radar for expansion in the next 6-7 years, although there are no immediate plans. He also notes the transformative role of AI in the sector, from building layouts and models to communication. “Those who do not embrace AI are in the past,” he believes.
Despite decades in the business, the “fire” is still alive. “One thing that hasn’t changed is the aspiration to do better, give a better deal the next time, create better ideas the next time. I was never in competition with other companies; my only competition was with myself,” he concludes.
The Hiranandani Group, founded by Dr. Niranjan Hiranandani, has been at the forefront of real estate development in India. Known for its commitment to quality and innovation, the group continues to shape the urban landscape of the country, creating homes that are not just spaces to live in, but spaces that bring happiness and comfort to their inhabitants.
Frequently Asked Questions
What is the current state of the real estate market in India?
The real estate market in India is currently on a strong growth path, with the economy growing at a steady rate of 6-7%. Infrastructure investment is playing a crucial role in job creation and fueling the entire ecosystem.
Why does Dr. Niranjan Hiranandani believe that emotional investment is important in real estate?
Dr. Hiranandani believes that emotional investment is crucial in real estate because when builders put their heart into creating homes, it ensures that the homes are not just spaces to live in, but spaces that bring happiness and comfort to their inhabitants.
What advice does Dr. Hiranandani have for young buyers in the real estate market?
Dr. Hiranandani advises young buyers to consider purchasing property, even with a small loan, rather than renting. He emphasizes that owning a home is a crucial investment for the future, especially in a country like India where social security is limited.
What are the key priorities for India's real estate growth according to Dr. Hiranandani?
According to Dr. Hiranandani, the key priorities for India's real estate growth include eradicating slums, providing water for all, and creating opportunities. He believes that focusing on these issues will drive real estate growth and overall economic development.
How does Dr. Hiranandani view the role of AI in the real estate sector?
Dr. Hiranandani believes that AI is playing a transformative role in the real estate sector, from building layouts and models to communication. He emphasizes that those who do not embrace AI are in the past and will be left behind.
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