Bricks & Billions: Vihang Group's ₹2,500 Cr Bet on Thane's Residential Boom

Thane-based real estate developer, Vihang Group, has recently launched four residential projects, encompassing a deliverable area of five million square feet and a projected revenue potential of Rs 2,000 crore. To fund these ventures, the Group plans to invest Rs 850 crore, utilizing a combination of equity, bank loans, and customer advances. Additionally, an anticipated infusion of Rs 2,500 crore is envisioned over the next five years.

Scheduled for delivery by 2027, these upcoming projects allocate approximately 80 percent of the space for residential units, while the remaining areas are designated for educational facilities, hospitality, and other lifestyle-related activities.

Thane, situated within the Mumbai Metropolitan Region (MMR), has gained prominence among real estate developers due to substantial investments in infrastructure, including roads, metro transportation, and civic amenities. The development of highways and expressways connecting Thane to major business districts enhances accessibility. Moreover, Thane's abundance of open spaces provides opportunities to construct homes catering to the mid-income and aspirational segments.

With a track record of completing over 20 projects, totaling more than three million square feet, Vihang Group focuses primarily on residential developments. Their housing units fall within the price range of Rs 45 to 90 lakh, aligning with the objective of offering sophistication and comfort tailored for professionals and millennials.

News By Rahul Yelligetti