<p>Realty firm Hiranandani Communities will invest Rs 1,000 crore to develop a new housing project in Mumbai to tap rising demand.</p>.<p>The company has launched a new housing project -- 'Golden Willow' -- in its mixed-use integrated township 'Hiranandani Fortune City' at Panvel.</p>.<p>The company plans to develop 1 million square feet of residential space in this project, comprising around 700 units. The apartment size ranges between 490 sq ft to 1,150 sq ft of carpet area.</p>.<p>The company will invest Rs 1,000 crore to tap the growing mid and luxury home demand in the Panvel realty market, Hiranandani Communities said in a statement on Thursday.</p>.<p>The project will be funded from construction finance and internal accruals. The ticket size ranges from Rs 70 lakh to over Rs 2 crore.</p>.<p><strong>Also Read | <a href="https://www.deccanherald.com/business/adanis-next-big-test-is-pulling-off-a-3-bn-slum-revamp-1209119.html" target="_blank">Adani's next big test is pulling off a $3-bn slum revamp</a></strong></p>.<p>Niranjan Hiranandani- CMD- Hiranandani Communities, said, "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."</p>.<p>In Hiranandani Fortune City, the company 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.</p>.<p>He further said 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."</p>.<p>The region is also witnessing the foray of many organised and branded developers to capitalise the new growth opportunities, Hiranandani said.</p>.<p>The Group has developed many mixed used integrated township across geographies like Powai, Thane, Panvel, Oragadam (Chennai).</p>.<p>The group has strategically forayed into emerging real estate asset classes like industrial and logistics parks, data centre that marks its pan-India presence. Currently, the group is also actively evaluating redevelopment projects in Mumbai and MMR (Mumbai Metropolitan Region) markets. </p>
<p>Realty firm Hiranandani Communities will invest Rs 1,000 crore to develop a new housing project in Mumbai to tap rising demand.</p>.<p>The company has launched a new housing project -- 'Golden Willow' -- in its mixed-use integrated township 'Hiranandani Fortune City' at Panvel.</p>.<p>The company plans to develop 1 million square feet of residential space in this project, comprising around 700 units. The apartment size ranges between 490 sq ft to 1,150 sq ft of carpet area.</p>.<p>The company will invest Rs 1,000 crore to tap the growing mid and luxury home demand in the Panvel realty market, Hiranandani Communities said in a statement on Thursday.</p>.<p>The project will be funded from construction finance and internal accruals. The ticket size ranges from Rs 70 lakh to over Rs 2 crore.</p>.<p><strong>Also Read | <a href="https://www.deccanherald.com/business/adanis-next-big-test-is-pulling-off-a-3-bn-slum-revamp-1209119.html" target="_blank">Adani's next big test is pulling off a $3-bn slum revamp</a></strong></p>.<p>Niranjan Hiranandani- CMD- Hiranandani Communities, said, "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."</p>.<p>In Hiranandani Fortune City, the company 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.</p>.<p>He further said 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."</p>.<p>The region is also witnessing the foray of many organised and branded developers to capitalise the new growth opportunities, Hiranandani said.</p>.<p>The Group has developed many mixed used integrated township across geographies like Powai, Thane, Panvel, Oragadam (Chennai).</p>.<p>The group has strategically forayed into emerging real estate asset classes like industrial and logistics parks, data centre that marks its pan-India presence. Currently, the group is also actively evaluating redevelopment projects in Mumbai and MMR (Mumbai Metropolitan Region) markets. </p>