RICL commences work on Kalyan Marina
ECONOMY & POLICY

RICL commences work on Kalyan Marina

Royal India Corporation Limited (RICL) has announced the commencement of work on the highly anticipated Kalyan Marina, a colossal venture of Rs 450 crore and will generates revenues of INR 175 crores. This ambitious project, spanning across a sprawling 2.2 acre plot marks a significant milestone in the organisation?s commitment to creating luxurious living spaces.

The project is set to kickstart in May 2024 which will breathe new life into modern living in Kalyan. A monumental development of 5 lakh square feet aims to offer spacious living spaces coupled with world-class amenities, setting new standards of comfort in the region. Additionally, integrated within this visionary endeavor will be commercial spaces providing convenient access to essential services and enhancing the overall lifestyle experience.

Kalyan Station, poised to become a super station, has garnered resounding endorsement from the Prime Minister himself. The anticipated upgrade, estimated at ?900 crore ($121m), will segregate tracks for suburban local trains and express trains, enhancing punctuality and minimising passenger inconvenience. Adding to the allure of this burgeoning hub is the Kalyan Marina, just a brief 2-minute walk from the station.

Key investors in this venture include industry stalwarts Sunder Iyer and Mangal Keshav?s family offices, whose vision and expertise further reinforce the project's potential for success, they will be the largest non-promoter share holders after the preferential issue of INR 100 crore which is due to open post 25th April (subject to approvals from the exchanges). The promoters are also increasing their stake in the company by 5% from the following preferential offer.

Our commitment to crafting extraordinary living experiences for our discerning clientele shines through in this project, shared Manoj Punamiya, CEO of Royal Indian Corporation Limited (RICL). With this endeavor, we aspire not only to deliver luxurious accommodations but also to enrich the burgeoning landscape of Kalyan as a premier real estate destination.

Situated strategically in prime locations, Royal India Corporation Limited?s (RICL) previous ventures such as Vertu in Wadala and Coitre D in Matunga have garnered widespread acclaim for their superior craftsmanship and attention to detail. As Kalyan continues to emerge as a prominent real estate destination, the Kalyan Marina will drive further regional growth and development, characterized by luxury, convenience, and connectivity.

Royal India Corporation Limited (RICL) has announced the commencement of work on the highly anticipated Kalyan Marina, a colossal venture of Rs 450 crore and will generates revenues of INR 175 crores. This ambitious project, spanning across a sprawling 2.2 acre plot marks a significant milestone in the organisation?s commitment to creating luxurious living spaces. The project is set to kickstart in May 2024 which will breathe new life into modern living in Kalyan. A monumental development of 5 lakh square feet aims to offer spacious living spaces coupled with world-class amenities, setting new standards of comfort in the region. Additionally, integrated within this visionary endeavor will be commercial spaces providing convenient access to essential services and enhancing the overall lifestyle experience. Kalyan Station, poised to become a super station, has garnered resounding endorsement from the Prime Minister himself. The anticipated upgrade, estimated at ?900 crore ($121m), will segregate tracks for suburban local trains and express trains, enhancing punctuality and minimising passenger inconvenience. Adding to the allure of this burgeoning hub is the Kalyan Marina, just a brief 2-minute walk from the station. Key investors in this venture include industry stalwarts Sunder Iyer and Mangal Keshav?s family offices, whose vision and expertise further reinforce the project's potential for success, they will be the largest non-promoter share holders after the preferential issue of INR 100 crore which is due to open post 25th April (subject to approvals from the exchanges). The promoters are also increasing their stake in the company by 5% from the following preferential offer. Our commitment to crafting extraordinary living experiences for our discerning clientele shines through in this project, shared Manoj Punamiya, CEO of Royal Indian Corporation Limited (RICL). With this endeavor, we aspire not only to deliver luxurious accommodations but also to enrich the burgeoning landscape of Kalyan as a premier real estate destination. Situated strategically in prime locations, Royal India Corporation Limited?s (RICL) previous ventures such as Vertu in Wadala and Coitre D in Matunga have garnered widespread acclaim for their superior craftsmanship and attention to detail. As Kalyan continues to emerge as a prominent real estate destination, the Kalyan Marina will drive further regional growth and development, characterized by luxury, convenience, and connectivity.

Next Story
Real Estate

Capacit’e Infraprojects Wins Rs 6.21 billion order from Saifee Burhani Upliftment Trust

Capacit’e Infraprojects has secured a Letter of Intent (LOI) worth Rs 6.21 billion (excluding GST) from Saifee Burhani Upliftment Trust (SBUT) for the execution of core and shell works, finishing, MEPF services, and other associated components of the redevelopment project—Sector 07 of the Saifee Burhani Upliftment Project—located at Ward ‘C’, Bhendi Bazaar, Mumbai. This is the third repeat order from SBUT to Capacit’e Infraprojects, underscoring the trust and satisfaction of a long-standing client in the company’s project delivery capabilities. Commenting on the develop..

Next Story
Resources

K Raheja Corp's Volunteering Drive Brings Back-to-School Cheer for Underprivileged Kids

Real estate major K Raheja Corp concluded its latest community initiative under the ‘Time Off for Volunteering’ programme, titled Paint a Pair, Show You Care. Held in association with NGO ConnectFor, the campaign was part of a larger 'Back to School' drive aimed at supporting underprivileged students from the Jhanvi Charitable Trust. More than 45 employees from across group companies—Mindspace Business Parks, Chalet Hotels Ltd., K Raheja Corp Homes, and Inorbit Malls—came together to hand-paint over 60 pairs of canvas shoes for children preparing to return to school. Volunteers al..

Next Story
Infrastructure Urban

CCI Worldwide Logistics Launches ‘Trans Africa’ Freight Service

CCI Worldwide Logistics, the international freight forwarding arm of the CCI Group, has launched ‘Trans Africa’—a technology-led logistics platform aimed at streamlining cross-border trade across Africa. The company is investing Rs 1.06 billion in the initiative, targeting an annual freight volume of 5,000 TEUs by air and sea, with an estimated 15 per cent return on investment. The service is being rolled out in key markets such as Nigeria, Kenya, South Africa, Ghana, and Egypt, with planned expansion into Francophone West Africa, Central Africa, and landlocked nations including Uga..

Advertisement

Advertisement

Subscribe to Our Newsletter

Get daily newsletters around different themes from Construction world.

STAY CONNECTED

Advertisement

Advertisement

Advertisement

Advertisement

Talk to us?