House of Hiranandani Expands Its Real Estate Presence in Mumbai Metropolitan Region
The House of Hiranandani, under the leadership of Surendra Hiranandani, is making a significant investment of INR 12,500 crore to strengthen its presence in the Mumbai Metropolitan Region (MMR) over the next 24 months. This strategic move includes luxury
Real EstateMumbaiLuxury DevelopmentsHiranandaniInfrastructure GrowthReal Estate MumbaiNov 06, 2024
A key highlight of this expansion is the integrated development of a 25-acre land parcel in Hiranandani Estate, Thane. The company is already making significant progress with premium luxury towers such as 'Castalia' in Kandivali, 'Belicia' in Panch Pakhadi, Thane, and a massive 350-acre township in Thane. These projects are designed to set new standards in luxury living and urban development.
The company has also identified several redevelopment opportunities within the MMR, including a 15-acre project in Chembur that encompasses Maitri Park and Shrinagar. Additionally, they are in advanced discussions regarding redevelopment projects in South Mumbai and other key micro-markets across the city. This strategic approach ensures that the House of Hiranandani remains at the forefront of the evolving real estate market.
Alongside its residential projects, the company is expanding its commercial portfolio in Mumbai and Thane. Currently, they manage 4.5 million square feet of commercial space, with another 2.5 million square feet under construction. This expansion is expected to be completed within the next six months, further solidifying their position in the MMR's commercial real estate market.
Surendra Hiranandani, Chairman and Managing Director, emphasized that Mumbai's infrastructure development and the increasing demand for world-class spaces present a significant opportunity for the company. He stated, 'This investment is set to redefine the MMR realty market through meticulously designed luxury projects. Our projects reflect our vision and commitment, and our expertise will continue to uphold our four-decade legacy of creating high-quality, sustainable developments that enhance the urban landscape.'
Harsh Hiranandani, Director, has been driving the company's growth and operations in the MMR market since 2016. He noted, 'Mumbai's real estate market is evolving, with a noticeable demand for premium developments and state-of-the-art commercial spaces in the MMR. Our goal is to set new benchmarks in the industry, and this strategic step will result in developments that align with the aspirations of modern homebuyers and businesses.'
The company's capabilities are further reinforced by its structured approach to business. Harsh Hiranandani explained, 'We operate with a process-driven mindset, regularly training our engineers, designers, and other professionals to enhance productivity and uphold high-quality standards.'
In the residential segment, the company will continue to focus on luxury projects. Surendra Hiranandani defined luxury as extending beyond the aesthetics of a product. He stated, 'Luxury encompasses the overall experience a customer gains while residing in a project, including comfort and the positive impact on their health and wellness. It is about the art of combining essential elements to create a beautiful living experience.'
Frequently Asked Questions
What is the total investment announced by the House of Hiranandani for the MMR expansion?
The House of Hiranandani has announced a strategic investment of INR 12,500 crore for the MMR expansion over the next 24 months.
What are some of the key residential projects being developed by the House of Hiranandani in MMR?
Key residential projects include 'Castalia' in Kandivali, 'Belicia' in Panch Pakhadi, Thane, and a vast 350-acre township in Thane.
What is the total commercial space currently managed by the House of Hiranandani in MMR?
The House of Hiranandani currently manages 4.5 million square feet of commercial space in MMR, with an additional 2.5 million square feet under construction.
Who is leading the House of Hiranandani's growth and operations in the MMR market?
Harsh Hiranandani, Director, has been driving the company's growth and operations in the MMR market since 2016.
How does the House of Hiranandani define luxury in their projects?
The House of Hiranandani defines luxury as the overall experience a customer gains while residing in a project, including comfort and the positive impact on their health and wellness, beyond just the aesthetics.
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