With luxury development of over 7.3 mn sq ft, House of Hiranandani aims to capitalise on MMR’s infrastructure growth, coupled with the rising demand for premium residential and commercial properties.
Surendra Hiranandani-led House of Hiranandani, a premium brand name in Indian real estate, has announced its strategic investment of Rs 12,500 crore to deepen its presence in the Mumbai Metropolitan Region (MMR) in the next 24 months. With luxury development of over 7.3 million square feet, House of Hiranandani aims to capitalise on the region’s infrastructure growth, coupled with the rising demand for premium residential and commercial properties.
The highlight of the expansion in MMR includes an integrated development of a 25-acre land parcel in Hiranandani Estate, Thane. It is already developing some premium luxury towers such as ‘Castalia’, located in Kandivali, ‘Belicia’ in Panch Pakhadi, Thane, and a 350-acre township in Thane, to name a few.
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The company has also identified redevelopment opportunities in the MMR region, including a 15-acre project in Chembur consisting of Maitri Park and Shrinagar, and other land parcels in western suburbs. It is currently in advanced discussion for redevelopment projects in South Mumbai, with other key micro-markets within the city also under consideration.
In addition to housing, the company is expanding its commercial portfolio in Mumbai and Thane. It currently manages 4.5 million square feet of commercial space with an additional 2.5 million square feet under construction, expected to be completed within the next six months, further positioning itself as a significant player in the MMR’s commercial real estate market.
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Commenting on the expansion plan, Surendra Hiranandani, Chairman and Managing Director, House of Hiranandani, said, “Mumbai’s infrastructure development and growing demand for world-class spaces presents a tremendous opportunity for us in MMR. With this investment we are set to redefine the MMR realty market through our meticulously-designed and planned luxury projects. House of Hiranandani is a powerhouse of design and engineering, and our projects are testament of our vision and commitment. Through our expertise we will continue to uphold our four-decade legacy of creating high-quality sustainable developments that enhance the urban fabric.”
“Mumbai’s real estate market is evolving and we have been witnessing high demand for premium developments and state-of-the art commercial spaces in MMR. Our goal is to establish new benchmarks in the industry. This strategic step in our journey will create developments that speak to the aspirations of the present day homebuyers and businesses alike,” said Harsh Hiranandani, Director, who has been driving the expansion and operations for the company in the MMR market since 2016.
