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 Mumbai Metropolitan Region (MMR) in 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.
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.
Chairman and Managing Director Mr. Surendra Hiranandani, the design and engineering genius behind the group, commented on the expansion stating, “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.”
Leading the expansion is Mr. Harsh Hiranandani, Director, who has been driving the expansion and operations for the company in the MMR market since 2016.
“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.
The company’s capabilities are further cemented with its organised approach towards business. “We operate with a process driven approach and believe in regularly training our engineers, designers and other professionals for enhancing productivity and maintaining high standards of quality,” he added.
In the residential segment, the company will continue to develop luxury projects. While defining luxury, Surendra Hiranandani said, “Luxury is more than aesthetics of a product. It is about the experience a customer gains while living in the project, the comfort quotient and the overall impact it has on the customer’s health and wellness. It is about the art of putting together all the essentials to create a beautiful living experience.”
House of Hiranandani has an excellent record of self-financing its projects showcasing the financial stability and capability to achieve the vision of the company of shaping Mumbai’s urban landscape by enhancing the livability quotient and commercial appeal of the region.
