Mumbai-based Real Estate Developer Secures Redevelopment Rights for ₹3,000 Crore Project
House of Hiranandani, a prominent Mumbai-based real estate developer, has secured the redevelopment rights for an approximately three-acre plot in Mumbai's desirable Borivali West area.
Project Highlights:
- Estimated Gross Development Value (GDV): ₹3,000 crore
- Number of homes: 380 existing homes and over 850 free-sale residences
- Carpet area: approximately 7.6 lakh sq ft of saleable area
Speaking about the project, Harsh Hiranandani, Director of House of Hiranandani, emphasized the importance of trust, design integrity, and consistency of delivery in redevelopment projects. "At House of Hiranandani, every project is an opportunity to raise the bar on design, quality, and the way communities live."
Locational Advantage:
The project's strategic location in Borivali West offers several benefits, including:
- Proximity to the Mumbai Coastal Road, significantly reducing travel time between the western suburbs and the rest of the city
- Access to the proposed Versova-Bhayandar extension, which will link directly to the already operational South Mumbai Coastal Road
- Close proximity to a mangrove park, classified as a Forest Reserve, and a low-density, green character of the area
According to Surendra Hiranandani, chairman and MD of House of Hiranandani, the Mumbai Metropolitan Region is at an inflection point, with infrastructure, connectivity, and urban aspiration converging to reshape the city and unlock immense potential for the region.
Company Background:
House of Hiranandani has a track record of 51+ million sq.ft. developed area, 27,041 homes delivered, and a commercial development of over 14.76 million sq. ft of office spaces.
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- Mumbai redevelopment: Why some flat owners choose not to move back after redevelopment is complete
- Mumbai redevelopment: Should you sell your apartment to the developer or wait it out through the entire process?