Veena Developers announces launch of three high-end projects in Mumbai with Rs 3,500cr revenue potential
Veena Developers, a prominent real estate firm in Mumbai, has announced plans for three new high-end projects in the city’s thriving micro-markets of Kandivali, Borivali, and Andheri. These ambitious projects are expected to introduce a total sale area of 1.4 million square feet and a construction area of nearly 4 million sq. ft., aiming for a revenue potential of Rs 3500 crore.
Chairman’s Vision for Sophisticated and Comfortable Living Spaces
Haresh Sanghavi, the Chairman of Veena Developers, emphasized the company’s commitment to crafting living spaces that blend sophistication and comfort. He stated that these projects are strategically designed to cater to the luxury and semi-luxury segments, reflecting the company’s dedication to offering exclusive living experiences.
Veena Developers Unveils Plans for Premium Residential and Retail Spaces in Mumbai
Funding and Project Completion Timeline
The company plans to invest Rs 750 crore in these upcoming projects, with an expected completion timeline before 2027. The project allocation is set with 80% dedicated to luxury residential spaces and 20% to high-end retail spaces. Veena Developers is also actively working on delivering five million square feet across various projects, having already invested Rs 1,500 crore in ongoing developments.
Diverse Portfolio and Strategic Market Presence
Sanghavi highlighted the diversity within Veena Developers’ portfolio, including society redevelopment projects in key Mumbai areas. The company’s footprint spans across Kandivali, Andheri, Malad, Chembur, and Santacruz, focusing on locations that embody modern living standards.
Commercial and Affordable Housing Initiatives
In the commercial sector, Veena Developers has made significant strides in Malad-West, creating innovative workspaces. Additionally, the company is committed to affordable housing in Palghar, aligning with their vision of inclusivity and accessibility. The company’s presence extends to other prime locations like Vasai, Goregaon, Malad, and Palghar, catering to a wide range of housing needs.