Hiranandanis look for new opportunities in real estate
One of the India’s largest real estate companies maintained privately by Hiranandani brothers is eyeing on new opportunities in the real estate segment for growth.
The younger brother, Surendra Hiranandani is now set to launch his first redevelopment project in Mumbai.With this project, it will be an initiation of departure from his company House of Hiranandani’s focus thus far on building
residences in Bangalore and Chennai.
Niranjan Hiranandani, the elder brother who heads Hiranandani Constructions, has now bought a land with own revenue in Pune and Ahmedabad. He is yet to decide whether to build projects in Pune and Ahmedabad with his own name or under the group’s name.
Furthermore, going into different zones by Hiranandanis has boost the optimism for India’s depressed real estate sector, with property analysts seeing a revival this year.
Surendra Hiranandani’s House of Hiranandani plans to launch its first redevelopment project in Chembur, a Mumbai suburb, this year, involving a mid- sized housing society. The company is in talks with housing society and slum
redevelopment deals in suburban and south Mumbai. Meanwhile, there are more projects in the pipeline to be launched whose approvals are taking time.
Also, as per Niranjan Hiranandani, a market survey is in process to know which projects to launch on the lands he has bought in Pune and Ahmedabad. The medium- size land parcels are suitable for being developed into housing projects or even as special economic zones.
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