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

Infrastructure Energy

14 Oct 2025

Mizoram To Build Rs 139 Billion Pumped Storage Power Plant

Mizoram Chief Minister Lalduhoma on Friday announced plans to construct a 2,400 MW pumped storage hydroelectric power plant in Hnahthial district, marking a major step towards achieving energy self-sufficiency in the state. Addressing the Mizo Students’ Union general conference in Hnahthial town, the Chief Minister said the plant would be developed across the Darzo Nallah, a tributary of the Tuipui river. Once operational, the project is expected to play a pivotal role in meeting Mizoram’s rising electricity demand and reducing dependence on imported power. Officials from the State Power..

Centre Plans Nationwide Opening Of Power Retail Market

India is preparing to open up its retail electricity market to private companies nationwide, effectively ending the long-standing monopoly of state-run power distributors in most regions, according to a draft bill released by the Union Power Ministry on Friday. The move will enable major private sector players — including Adani Enterprises, Tata Power, Torrent Power, and CESC — to expand their presence across the country’s electricity distribution landscape. A similar reform attempt in 2022 had faced strong opposition from state-run distribution companies (discoms), which currently dom..

CEA Sets 100 GW Nuclear Target For India By 2047

In a landmark step marking its 52nd Foundation Day, the Central Electricity Authority (CEA) unveiled an ambitious roadmap to develop 100 gigawatts (GW) of nuclear power capacity by 2047, aligning with India’s long-term Net-Zero commitment and energy security objectives. The event, held at the Central Water Commission auditorium in New Delhi’s R.K. Puram, was attended by Pankaj Agarwal, Secretary, Ministry of Power, who served as the Chief Guest. The roadmap sets out a detailed plan to expand India’s nuclear capacity from its current level of approximately 8,180 MW as of early 2025, outl..