House of Hiranandani to Invest Rs 3,200 Crore in Redeveloping 5 Housing Societies in Mumbai
House of Hiranandani, a leading real estate company, plans to invest Rs 3,200 crore in redeveloping five housing societies in Mumbai, with a total area of 17 lakh square feet and a GDV of Rs 5,000 crore.
House Of HiranandaniReal EstateRedevelopmentHousing SocietiesMumbaiReal Estate NewsSep 12, 2024
The five housing societies, located in Chembur, comprise of 459 tenants and include the renovation of Maitri Park in Chembur East, which spans around 9 acres, and Shrinagar Society in Chembur West, consisting of four societies covering approximately six acres.
According to the company, it has entered into agreements with the five main housing societies in Chembur and aims to complete the redevelopment in the next 4-5 years. The company is currently working on obtaining the necessary approvals.
Surendra Hiranandani, Chairman and Managing Director of House of Hiranandani, expressed his enthusiasm for exploring the new opportunity of redeveloping established societies.
Frequently Asked Questions
What is the total investment planned by House of Hiranandani in redeveloping housing societies in Mumbai?
Rs 3,200 crore
How many housing societies are being redeveloped by House of Hiranandani in Mumbai?
5
What is the total area of the redevelopment projects secured by House of Hiranandani?
17 lakh square feet
What is the expected completion timeline for the redevelopment projects?
4-5 years
How many residences has House of Hiranandani completed to date?
25,375
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