House of Hiranandani to Invest ₹3,200 Crore in Major Mumbai Project

House of Hiranandani has committed over ₹3,200 crore to redevelop five housing societies in Mumbai's Chembur area. The project spans 1.7 million sq. ft. and aims to transform two key sites: 'Maitri Park' in Chembur East and 'Shrinagar Society', a cluster of four societies in Chembur West.

The redevelopment of Maitri Park covers nine acres, while Shrinagar Society spreads across six acres. Together, these projects boast a gross development value (GDV) of over ₹5,000 crore. House of Hiranandani is currently seeking government approvals, with an expected completion timeline of four to five years.

This initiative marks a significant move in the company’s expansion into society redevelopment projects. With separate verticals focused on redevelopment and slum rehabilitation, the company is strengthening its presence across key cities like Mumbai, Thane, Chennai, Bengaluru, and Hyderabad.

The agreements for the Chembur projects have been signed and registered, classifying this as a formal contract. These efforts align with the company’s broader portfolio, which includes over 12 million sq. ft. of commercial construction.

Additionally, House of Hiranandani’s first redevelopment project in Kandivali is set to finish by 2025, showcasing their ongoing commitment to urban renewal.

News by Rahul Yelligetti