The Hiranandani Group, renowned for its upscale real estate projects, has achieved an incredible feat by earning an astounding Rs 1,100 crore in sales within a week of unveiling its three luxurious towers in the heart of Mumbai’s central suburb, Powai. These towers comprise of 3 and 4BHK luxury apartments, and this milestone speaks volumes about the soaring demand for upscale living spaces and the trust that discerning homebuyers have in the Hiranandani brand.
To create these luxurious living spaces, the Hiranandani Group has allocated a significant investment of Rs 2,000 crore for the development of the Empress Hills Complex. This grand project is planned meticulously to align with guidelines set forth by the Real Estate (Regulation and Development) Act, 2016 (RERA), and is expected to be completed by 2026. This testament to opulence is an integral part of the sprawling Hiranandani Gardens township, exemplifying the epitome of luxurious living in Mumbai.
The Empress Hills Complex is a shining example of architectural finesse and luxury living, covering a total planned area of 3.3 lakh square feet carpet area and comprising of 330 units. Out of these, 250 units are already available for discerning homebuyers, and a staggering 150 units were sold within a week of the project launch. The remaining units will be offered at a later stage, a common practice among real estate developers to ensure optimal value and market dynamics.
Prospective homeowners can choose from the exquisite range of 3 and 4BHK apartments, boasting average sizes of 1,100 square feet and 1,600 square feet, respectively. The price range for these luxurious homes varies between Rs 6 crore and Rs 10 crore, offering an ideal blend of elegance, comfort, and sophistication.
The surge in demand for ownership housing can be attributed to various factors, including the global Covid-19 pandemic and geo-economic uncertainties, which have amplified the desire for spacious and lavish homes, propelling the demand for luxury apartments. Factors such as rising disposable incomes, diversified sources of income, improved job opportunities, a robust capital market, and a strong aspiration for upscale living spaces are all contributing to the burgeoning appetite among affluent homebuyers.
Niranjan Hiranandani, the visionary founder, and managing director of the Hiranandani Group, elaborated on this trend, stating, “The Powai launch will cater to the soaring demand for luxury apartments, a holistic ecosystem, sustainable development, and happy community living.” He emphasized the proven track record of perpetual price appreciation and generational wealth creation, showcasing the company’s commitment to optimal revenue and customer satisfaction in FY23.
Powai stands as a prime location, strategically connected by road and accessible via suburban railway networks. Its proximity to railway stations and the airport further enhances its appeal. The “walk-to-work” model within townships is a compelling draw for C-suite professionals, expats, startup pioneers, entrepreneurs, and millennials seeking a harmonious blend of work and leisure. Powai offers a green utopian neighborhood replete with essential social amenities such as education, healthcare, hospitality, high-street retail, fine dining, global entertainment, and modern facilities.
In conclusion, the remarkable success of the Hiranandani Group’s Empress Hills Complex in Powai, with sales amounting to Rs 1,100 crore within a week, underscores the burgeoning demand for luxury apartments. As aspiring homeowners seek opulence and comfort, investments in projects like these are poised to generate optimal revenue and elevate the standards of luxurious living in Mumbai. The Hiranandani Group’s unwavering commitment to excellence and the creation of iconic living spaces reinforce its position as a trendsetter in the real estate landscape.
