ANI PR Wire
11 Nov 2023, 16:12 GMT+10
BusinessWire India
Mumbai (Maharashtra) [India], November 11: Veena Developers, a leading real estate firm in Mumbai, has unveiled plans for three high-end real estate in Mumbai. These projects, set to launch in the thriving micro-markets of Kandivali, Borivali, and Andheri, aim to introduce a 1.4 million square feet sale area having a construction area of nearly 4 million sq. ft., emphasising a revenue potential of Rs 3500 cr.
While Speaking on the Development, Haresh Sanghavi, the Chairman of Veena Developers and its Group of Companies, highlighted, "We are dedicated to crafting living spaces that embody sophistication and comfort, catering to the discerning tastes of our esteemed clientele. The upcoming projects are strategically aligned to cater to the luxury and semi-luxury segments, reflecting the company's unwavering commitment to providing exclusive living experiences that epitomise elegance."
Sanghavi further revealed that the funding for the forthcoming projects, amounting to Rs 750 crore, the company plans to complete these developments before 2027, with a substantial 80 per cent of the projects dedicated to luxury residential spaces and the remaining 20 per cent allocated to high-end retail spaces. Beyond the impressive upcoming ventures, Veena Developers is currently in the process of delivering five million square feet across various projects, with delivery set to commence from next month onwards. The company has already incurred a cost of Rs 1,500 crore in ongoing projects.
Sanghavi also shed light on the intricacies of the ongoing projects, revealing the diversity within their portfolio, which includes society redevelopment projects in Andheri Lokhandwala and Krishna Nagar Borivali. According to the Company, Veena Developers has strategically carved their market presence across key areas in Mumbai. In the realm of luxury and semi-luxury residential developments, their footprint extends gracefully across the vibrant neighbourhoods of Kandivali, Andheri, Malad, Chembur, and Santacruz. Each location has been carefully chosen to reflect the essence of modern living, where their offering seamlessly blends comfort and sophistication.
"In the commercial sector, our focus shines brightly in the bustling area of Malad-West. Here, we've meticulously curated an innovative workspace that echoes the dynamism of the business world, fostering an environment that nurtures growth and progress for enterprises. Furthermore, our commitment to providing affordable housing options finds expression in the serene locale of Palghar. Here, we are dedicated to creating homes that meet the community's needs and embody our vision of inclusivity and accessibility, ensuring that everyone can experience the joy of owning a quality home," Sanghvi added. Additionally, the company has a substantial presence in prime locations such as Vasai, Goregaon, Malad and Palghar, catering to diverse housing needs across the city.
The announcement comes amidst a highly encouraging response from the market, particularly before the auspicious occasion of Diwali. Veena Developers has witnessed a surge in interest, especially in their luxury and uber-luxury offerings, indicating a growing demand for premium residential spaces. The company has also noted a preference shift among millennials, emphasising a desire for quality living spaces that align with their modern lifestyles. In a notable trend, there has been a significant rise in demand from women homebuyers, highlighting their increasing financial independence and decision-making power. This reflects a broader societal shift towards inclusivity, emphasising the importance of catering to diverse homeowner preferences and requirements.
(ADVERTORIAL DISCLAIMER: The above press release has been provided by BusinessWire India. ANI will not be responsible in any way for the content of the same)
Get a daily dose of Nepal National news through our daily email, its complimentary and keeps you fully up to date with world and business news as well.
Publish news of your business, community or sports group, personnel appointments, major event and more by submitting a news release to Nepal National.
More InformationREDMOND, Washington: Artificial intelligence is transforming Microsoft's bottom line. The company saved over US$500 million last year...
WASHINGTON, D.C.: A federal rule designed to make it easier for Americans to cancel subscriptions has been blocked by a U.S. appeals...
BASTROP, Texas: In a surprising turn at Elon Musk's X platform, CEO Linda Yaccarino announced she is stepping down, just months after...
NEW YORK CITY, New York: Former British prime minister Rishi Sunak will return to Goldman Sachs in an advisory role, the Wall Street...
LONDON, U.K.: Physically backed gold exchange-traded funds recorded their most significant semi-annual inflow since the first half...
AMSTERDAM, Netherlands: Some 32 percent of global semiconductor production could face climate change-related copper supply disruptions...
New Delhi [India], July 12 (ANI): The Ministry of External Affairs (MEA) has underlined India's increasing involvement in the Indo-Pacific...
Dhaka [Bangladesh], July 12 (ANI): The three-day second-round tariff talks between Bangladesh and the United States have ended without...
New Delhi [India], July 12 (ANI): International Cricket Council (ICC) chairman Jay Shah lauded Italy and the Netherlands after both...
Lahore [Pakistan], July 12 (ANI): Police in Faisalabad have arrested two suspects, Bilal Nawaz and Umar Aslam, in connection with the...
New Delhi [India], July 12 (ANI): The Ministry of External Affairs (MEA) has released its annual report for 2024, highlighting India's...
London [UK], July 12 (ANI): Shubman Gill, who has developed an appetite for breaking milestones, continued with the trend and added...