Realty agency Hiranandani Group will make investments Rs 1,000 crore to develop a brand new housing challenge in Mumbai. The corporate has launched a brand new challenge, ‘Golden Willow’, in its built-in township Hiranandani Fortune Metropolis at Panvel. The corporate goals to speculate to be able to faucet into the rising demand for mid and luxurious properties. 

The realty agency plans to develop 1 million sq ft of residential house on this challenge that may comprise round 700 models ranging between 490 sq ft to 1,150 sq ft of carpet space.

The Golden Willow challenge will probably be funded from constriction finance and inner accruals. The ticket measurement will probably be of Rs 70 lakh to over Rs 2 crore.

Hiranandani Communities CMD Niranjan Hiranandani mentioned that the launch of this challenge is in step with the market buoyancy. The corporate seeks to seize sturdy demand for branded luxurious properties after COVID-19. 

He additional mentioned that “The Panvel realty market is presently booming as a brand new financial node with the commissioning of mega infrastructure initiatives. This has already led to the rise in property costs index northwards.”

Hiranandani mentioned that the area is witnessing the foray of many organised and branded builders in search of to faucet into the brand new development alternatives. 

The corporate is thought for its blended used built-in township in Powai, Thane, Panvel and Chennai’s Oragadam. It has thus far delivered over 2,200 properties throughout 2.5 million sq ft of residential house and a couple of million sq ft of business house. 

Additionally learn: Mumbai actual property market up for main increase; India to develop by double digits in 2023: Hiranandani