Realty developer Dynamix Group is planning to invest over Rs 350 crore across its ongoing and upcoming projects in the next two years. In addition to its ongoing projects across Mumbai, Thane and Goa, the company is looking to launch multiple projects in Mumbai in the next 12-24 months, said a top company official.
In Mumbai, the company is looking to launch its projects in Goregaon, Kandivali and Malad suburb of Mumbai during this period.
Whilst the group had intended to launch some of these projects in financial year 2020-21, the COVID-19 induced pandemic delayed its plans. Jay Goenka, Director at Dynamix Group believes that whilst the events of the last few quarters delayed its launches, they have brought about some important changes in the preferences of consumers.
“We saw tremendous interest in our projects in the months of October through December 2020 given the change in homebuyers’ perspective, resurgence in demand for larger homes. Affordability as a result of lower home-loan interest rates is also enhanced,” Goenka said.
According to him, a majority of consumers in the company’s recent launches are first-time homebuyers and as many as 20-25% are upgrade buyers, especially those in areas such as Malad and Goregaon.
The company launched the first phase of its Avanya project in Dahisar suburb of Mumbai during the third quarter of 2020-21 and has sold around 90% of the 380 units, priced between Rs 60 lakh and Rs 1.2 crore.
In addition to the expansion plans in Mumbai, Dynamix Group is also planning the next phase of its ‘Aldeia De Goa’ project in Goa. This project spread over 143 acres will offer villas, plots and apartments.