House of Hiranandani strengthens its redevelopment portfolio

16 Sep 2024 CW Team

House of Hiranandani [HOH] known for developing integrated communities in Mumbai Metropolitan Region (MMR), Bengaluru, Hyderabad and Chennai is on its path to strengthen its footprint in the redevelopment segment in Mumbai. The company announced the signing of additional redevelopment projects of 1.7 million sq ft with a GDV of Rs 50 billion.

The company has entered into registered development agreements with five major housing societies in Chembur and plans to invest Rs 32 billion. These five housing societies in Chembur comprising 459 tenants includes redevelopment of Maitri Park in Chembur East, admeasuring approximately nine acres and Shrinagar Society in Chembur West, a cluster of four societies admeasuring approximately six acres. The company is in process of securing the necessary approvals and plans to complete the redevelopment within the next 4-5 years. Redevelopment in a holistic way with conscientious placemaking and urban planning has been a hallmark as seen in House of Hiranandani’s projects across MMR, Chennai and Bengaluru.

Surendra Hiranandani, Chairman and Managing Director, House of Hiranandani said, “Redevelopment of established societies is a new opportunity that HOH would like to explore. Today, Mumbai city has no space for expansion. The older regions of Mumbai are full of old and dilapidated buildings with insufficient infrastructure. Considering the scarcity of space, redevelopment of these buildings is an ideal solution that can unlock potential of these spaces, create world class infrastructure and amenities for the residents and also transform the clogged spaces in to planned sustainable and liveable communities.

At the forefront of creating integrated communities, we have been shaping the landscape of real estate for over four decades. Our distinctive approach to design and planning has redefined industry standards, blending architectural elegance with practical functionality. With a strong foundation in design and engineering, our developments are known for their meticulous attention to detail, in-depth research, and signature neoclassical architecture that stands the test of time. Every project is a reflection of our belief in merging heritage and modernity to deliver spaces that are not only beautiful but also built to last.

Our landmark developments, such as Hiranandani Gardens in Powai and Hiranandani Estate in Thane, are perfect examples of how thoughtful planning and a holistic vision can create communities that elevate living standards. The societies in Chembur offer yet another opportunity for us to create a benchmark in residential development, enhancing the quality of life for residents while providing them with a harmonious, well-designed environment.

Along with Chembur we are looking forward to aggressively exploring other locations for redevelopment in Mumbai. Our recent redevelopment project Castalia in Kandivali is nearing completion in 2025.”

Among the prominent markets with redevelopment projects include areas from the South Mumbai and Central Mumbai regions. House of Hiranandani has developed separate teams to focus both on society redevelopment and on SRA redevelopment. The vision of both these teams will be to create landmark developments in the city and unlock value for the Company and for the tenants.

House of Hiranandani has a legacy of over four decades in the real estate industry. The company invests heavily in research and development to ensure that its developments surpass industry benchmarks and redefine engineering and design. It also ensures the local ecology of the sites is maintained by conducting research and thoughtful horticulture practices through a team of over 100 members across sites.

Today, the brand is synonymous with excellence and strives to create value for all stakeholders at every step of development. It has transformed the real estate skyline of Mumbai, Bengaluru, Chennai and Hyderabad with its signature-styled neighbourhoods that offer a holistic living experience to residents.

Along with residential, House of Hiranandani has also constructed over 12 mn sq ft of area in the commercial sector. Till date House of Hiranandani has delivered 25,375 homes, developed 45.82 mn sq ft (residential and commercial), educated 89,664 students and planted over 61,670 trees.

Infrastructure Urban

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