Dr. Niranjan Hiranandani: Shaping India’s Real Estate Future and Beyond
Dr. Niranjan Hiranandani, Co-Founder and Managing Director of Hiranandani Group, shares his insights on India's real estate market, the importance of infrastructure, and the future of the industry.
Real EstateHiranandani GroupIndian EconomyInfrastructureAiReal Estate NewsAug 11, 2025
Niranjan Hiranandani, a man 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.
India’s real estate sector, according to Hiranandani, is currently on a strong growth path. With the economy growing at 6–7%, infrastructure investment becomes 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.
His journey into this sector was far from straightforward. Coming from a family of doctors, his father being one of the country’s top ENT specialists, Dr. Hiranandani was trained as a Chartered Accountant and even taught in 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 that when he started out, things were far from easy. Borrowing from banks was more difficult than today, but that didn’t 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.” In short, to summarize the real estate tycoon, it’s 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 that he is, also spoke about the two-way learning graph.
Adding on the different aspects of his business, different sectors including health, education, Niranjan Hiranandani emphasized on 5 new properties across Mumbai and the newest one in Alibaug.
Moving on to broader investment trends, Dr. Hiranandani notes that while tax advantages are a major draw for Indians moving to Dubai, many also see it as a desirable second home destination. Yet, he remains optimistic about India’s prospects. “We might look like we are struggling at times from an outsider 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 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, models to communication, and believes those not embracing it are in the “past.”
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.”
Frequently Asked Questions
What is the current state of the real estate market in India?
The real estate market in India is experiencing a strong growth path, supported by the Prime Minister's Awas Yojana and a growing economy. Infrastructure investment is crucial for job creation and overall economic development.
What is Dr. Niranjan Hiranandani's background and how did he enter the real estate sector?
Dr. Niranjan Hiranandani comes from a family of doctors and was trained as a Chartered Accountant. Despite family skepticism, he aspired to become a builder and create homes that make people happy, starting with a dream and a strong emotional connection to the industry.
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. Owning a home is a crucial investment for the future, especially in a country without social security.
What is the Hiranandani Group's vision for the future of the real estate sector?
The Hiranandani Group’s original vision was to create quality housing for the lower middle class, but the quality of work attracted wealthy buyers, elevating the brand into the premium segment. Dr. Hiranandani is also looking at expansion in Hyderabad and the transformative role of AI in the sector.
What are Dr. Hiranandani's views on India's economic prospects and the role of real estate?
Dr. Hiranandani is optimistic about India’s economic prospects, believing it can become the top economy in the world by 2047. He emphasizes the importance of infrastructure, public welfare, and focusing on what India needs to do rather than what others think.
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