Hiranandani in Thane rents 18 floors office space to IDFC First Bank

29 Sep 2022 CW Team

IDFC First Bank has signed a long-term lease with property developer Hiranandani Group for a 10-year period that includes a renewal option for a total of 18 floors of office space totaling about 4.5 lakh sq ft in the commercial project Quantum in Hiranandani Estate in Thane.

One of the largest office leasing agreements signed this year was this one. Over the first five years of the lease, the private-sector bank will pay Rs 2.02 billion in rental for the office space, including upkeep.

In addition to consolidating, IDFC First Bank intends to use the newly leased space for business expansion and processing.

The 25-storey tower was recently finished and is now ready for interior decoration. The bank has a lease arrangement in place with Roma Builders, one of the divisions of the Hiranandani Group, whose directors include Niranjan and his brother Surendra Hiranandani.

The brothers continue to jointly hold a large number of real estate projects and properties even though they each manage their own real estate firms and development projects.

Also read:
Maharashtra cancels redevelopment GRs for Mhada buildings
Maharashtra to invite fresh bids for Dharavi redevelopment

Real Estate

07 Oct 2025

Compact Homes Lead Demand as Indian Housing Market Stabilises: Magicbricks

Magicbricks, India’s leading real estate platform, has released its PropIndex Report for July–September 2025, revealing signs of stabilisation in the housing market. Despite affordability pressures, housing demand grew 3.1 per cent QoQ, driven largely by compact homes. The share of 1–2 BHK units rose to 54 per cent of total demand, reversing a two-year decline and signalling renewed focus on affordability.While overall supply increased marginally by 1 per cent QoQ (–4.5 per cent YoY), property prices continued to rise. Pune (+41.4 per cent YoY), Mumbai (+29.6 per cent YoY), and Greater..

Flytta Launches India’s First Retrofitted Electric Truck for the Heavy-Duty Segment

Flytta has unveiled India’s first retrofitted 13-ton payload capacity electric truck, specially designed for cement bag transportation across challenging ghat roads and industrial terrains. Developed by Kalyani Powertrain (KPTL)—the electric mobility arm of the Kalyani Group—the truck will operate with Dalmia Cement on the Yadwad–Goa corridor.This industry-first collaboration brings together Flytta’s sustainable logistics expertise, Kalyani’s engineering capabilities in EV retrofitting, and Dalmia Cement’s commitment to green manufacturing. The partnership marks a significant ste..

REC Launches Rs 50.71 Mn Mobile Medical Units in Rajasthan

In a bid to make quality healthcare accessible to remote and underserved communities, REC has extended financial support of Rs 50.71 million under its CSR initiative to the Indian Red Cross Society, Alwar, for operating five Mobile Medical Units (MMUs) over the next three years.The MMUs were flagged off on October 5, 2025, by Bhupender Yadav, Hon’ble Union Minister of Environment, Forest & Climate Change, and Sanjay Sharma, Minister of Environment, Forest & Climate Change and Science & Technology, Government of Rajasthan.The event was attended by members of the REC CSR team, M L ..