Mumbai, Oct 28 (PTI) Realty firm House of Hiranandani on Tuesday said it will invest Rs 12,500 crore over the next two years to develop multiple projects in Mumbai Metropolitan Region (MMR). In a statement, the company said it will develop five projects in MMR with an investment of Rs 12,500 crore. Also Read | Kolkata Fatafat Online Result Unavailable? Kolkata FF Games Temporarily Suspended Amid Diwali 2024 Festivities, Know When This Satta Matka-Like Competition Will Resume.
The investments, to be met through equity and internal accruals, will be made in the total development of these five projects including land acquisition, construction, and other costs. House of Hiranandani Chairman and Managing Director Surendra Hiranandani, said, "Mumbai's infrastructure development and growing demand for world-class spaces presents a tremendous opportunity for us in MMR. With this investment we are set to redefine the MMR realty market through our meticulously designed and planned luxury projects.
" Also Read | Haryana State Formation Day 2024 Date: Know History and Significance of Haryana Day That Marks the Formation of the State of Haryana. The company will develop a 25-acre land parcel in Hiranandani Estate, Thane. It is already developing some premium luxury towers such as ‘Castalia', located in Kandivali, ‘Belicia' in Panch Pakhadi, Thane, and a 350-acre township in Thane.
It has also identified redevelopment opportunities in the MMR region, including a 15-acre project in Chemb.