In a significant development, the Hiranandani Group has announced the sale of 150 flats, accumulating a staggering Rs 1,100 crore in just a week, following the launch of three towers featuring luxurious 3 and 4BHK apartments in the prime suburb of Powai, central Mumbai.
Empress Hills Complex, as part of the Hiranandani Gardens township, stands as a testament to the demand for premium residences in the bustling city of Mumbai. The project boasts a total planned area of 3.3 lakh sq ft carpet, comprising 330 units. Among these, 250 units have been made available for purchase, with 150 of them quickly finding buyers within a week.
The apartments come in 3 & 4BHK configurations, with an average size of 1,100 sq ft & 1,600 sq ft respectively. The prices range between Rs 6 crore to Rs 10 crore, aligning with the opulence and luxury that the Hiranandani Group is renowned for delivering.
Niranjan Hiranandani, the founder and managing director of the Hiranandani Group, highlighted the shift in demand dynamics, stating that the pandemic and economic uncertainties have propelled a surge in ownership housing demand. Reasons like having more money to spend, various ways of earning, better job chances, a strong stock market, and the wish for big, fancy homes are making rich people buy expensive houses.
Powai, the chosen location for this luxury venture, is strategically connected by road and rail networks, ensuring accessibility. The development follows a 'walk-to-work' model, catering to professionals, expats, startups, and entrepreneurs, offering a holistic ecosystem and a sense of community living.
This project marks the Hiranandani Group's return to the Hiranandani Gardens township after nearly a decade, making it a significant step in the luxury real estate landscape. The company is optimistic about the success and revenue generated by this luxury residential project in the financial year 2023.