Paradigm Realty to Transform Mumbai's Western Suburbs with 11 Luxury Redevelopment Projects
Mumbai's real estate market is set to witness a significant transformation with Paradigm Realty's plans to redevelop 11 housing societies in the western suburbs, offering luxury gated projects with a gross consolidated revenue potential of around Rs 4,500
Real EstateMumbaiParadigm RealtyRedevelopmentLuxury Gated ProjectsReal Estate MumbaiJun 27, 2024
The projects in Bandra's Pali Hill and Carter Road areas, and Kandivali's Mahavir Nagar, are estimated to have a development potential of over 2.8 million sq ft. The projects in Pali Hill and Carter Road are spread over around half an acre each, with development potential of 1.5 lakh sq ft and 1.6 lakh sq ft, and estimated revenue of Rs 500 crore, respectively.
The Mahavir Nagar project has a development potential of over 2.5 million sq ft, of which the free-sale RERA carpet area of up to 1 million sq ft holds a gross development value of nearly Rs 3,500 crore. According to Parth Mehta, CMD, Paradigm Realty, the company plans to develop luxury gated projects on all three layouts, financing them through internal accruals, construction finance, equity, and pre-sales.
The developer has already paid Rs 10 crore as stamp duty for the registration of the redevelopment agreement with nine housing societies in Kandivali's Mahavir Nagar. This is the fifth project being undertaken by the developer in the western suburbs of Mumbai. With these projects, Paradigm Realty aims to transform the real estate landscape in Mumbai's western suburbs, offering luxury living options to residents.
Information Paradigm Realty is a reputed real estate developer with a strong presence in Mumbai and surrounding areas. The company has a proven track record of delivering high-quality projects, with a focus on luxury and comfort.
Paradigm Realty is a leading real estate developer in India, with a strong presence in Mumbai and other key cities. The company is committed to delivering high-quality projects that meet the evolving needs of homebuyers and investors.
Frequently Asked Questions
How many housing societies will Paradigm Realty redevelop in Mumbai's western suburbs?
11
What is the gross consolidated revenue potential of the redevelopment project?
Around Rs 4,500 crore
Where are the projects located?
Bandra's Pali Hill and Carter Road areas, and Kandivali's Mahavir Nagar
What is the development potential of the Mahavir Nagar project?
Over 2.5 million sq ft
How will Paradigm Realty finance the projects?
Through internal accruals, construction finance, equity, and pre-sales
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