Hiranandani invest Rs 1000 crore to launch new sector in Fortune City Panvel township

NEW DELHI: Hiranandani Communities announces the launch of ‘Golden Willow’, a premium residential sector in its burgeoning mixed-use integrated township, Hiranandani Fortune City at Panvel. This new RERA registered project spans across 1 million sq ft of residential space and comprises spacious 1, 2 and 3 BHK.

The apartment size ranges between 490 sq ft to 1150 sq ft of RERA carpet area. The company will invest Rs 1000 crores to tap the growing mid & luxury home demand in Panvel realty market. The new sector will have an array of recreational and leisure amenities to befit the homebuyers’ skewed preferences towards holistic and wellness infused living. The project will be financed from construction finance and internal accruals. The ticket size ranges from Rs 70 lacs onwards to Rs 2 crore above.

Dr. Niranjan Hiranandani- CMD- Hiranandani Communities opines that, “the launch of this new residential sector is in alignment with the market buoyancy as the company seeks to capture strong demand for branded luxury homes post-COVID. Hiranandani Fortune City, Panvel has already delivered 2200+ homes across 2.5 million square feet of residential space and 2 million square feet of commercial space, housing Asia’s largest Yotta NM1 data center. A holistic ecosystem & quality residence at the Fortune city integrated mixed use township will help investors earn lucrative rental yields in the marketplace. This new sector at Fortune City township in Panvel will further attract businessmen, self-employed, salaried professionals, NRI and aspirational millennial homebuyers to capitalize on the right mix of flourishing location, brand equity, attractive price point and intrinsic sentiment of buying an ownership home post covid pandemic.”

He further mentioned that “The Panvel realty market is currently booming as a new economic node with the commissioning of mega infrastructure projects. This has already led to the increase in property prices index northwards. The region is also witnessing the foray of many organized and branded developers to capitalize the new growth opportunities.”

The Panvel- Karjat region has been aptly coined as Mumbai NXT, redefining the location’s value proposition and its renewed connectivity with Mumbai. The dual advantage of JNPT seaport and Navi Mumbai international airport along with MTHL, coastal road, metro rail, multi-modal corridor, water transport will lead to unprecedented real estate growth. As a result of this last-mile connectivity, suburbanization has become notable along with acceleration of commercial development and urban migration. Panvel realty market is witnessing rise in population, mushrooming of commercial and retail spaces, social amenities, educational campuses, R&D centers, BFSI & IT offices, and tourist destinations which makes it an ideal proposition for homebuyers in MMR.



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