Hiranandani Group to invest Rs 2,000 crore in luxury housing sector in Mumbai
Real estate developer Hiranandani Group has plans to invest Rs 2,000 crore to develop the first phase of its luxury housing project comprising 330 units at Powai in Mumbai. The developer has already sold 150 units for Rs 1,100 crore within the first week of launch.
The project named Empress Hill at Hiranandani Garden would see a total of 5 lakh square feet area in phases. In the first phase, it launched a 3.3 lakh square feet area comprising 330 units across three residential towers. Construction cost to develop the first phase is estimated at around Rs 2,000 crore.
The average size of apartments ranges from 1,100 square feet to 1,600 square feet and the price range is Rs 6 crore to Rs 10 crore.
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