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Piramal Mahalaxmi to Invest Rs 3500 Crore in Three Years to Develop Mid Market Projects
The company, which counts Goldman Sachs and Warburg Pincus as its investors, is foraying into mid-market compact housing township project piramal mahalaxmi in mumbai.
By: piramal mahalaxmi mumbai
The company, which counts Goldman Sachs and Warburg Pincus as its investors is foraying into the mid-market compact housing segment with a 5-acre development as part of its larger 32-acre township project Piramal Vaikunth in Thane.
Of the total planned investment of Rs 3,500 crore, the company will be investing Rs 1,500 crore to develop 2 million sq ft on this 5-acre plot. The company will be offering 1 and 1.5 bedroom apartments with configurations of 350-500 sq ft priced at Rs 60 lakh to Rs 80 lakh.
The company is planning to launch 3 more projects by July--including projects at Mahim, Thane, and a new tower at its Mahalaxmi development--
It is planning to add a total of 10 million sq ft projects in 2020 to its existing 17 million sq ft ongoing development portfolio. South Mumbai projects including Mahalaxmi( Piramal Mahalaxmi (https://www.piramalmahalaxmi.com/
Piramal Realty (https://www.piramalrealty.com/
The company will continue exploring new land parcels in the Mumbai Metropolitan Region (MMR) for residential and commercial developments, he said.
"We have been receiving proposals from landowners for outright sale and joint developments. Most of the landlords have toned down their expectations now in line with the market realities. Apart from landlords, lenders have also started approaching for completion of projects," Piramal added.
Officially Published at Indiatimes
Visit Official Website for more details.
Email at: SALES.PRPL@PIRAMAL.CO.IN
Piramal Mahalaxmi mumbai