Mumbai-based developer Hiranandani Communities has launched the first phase of its 225-acre integrated township project, Hiranandani Sands, in Alibaug. The company is investing โน5,000 crore in the project, which has an estimated gross development value (GDV) of โน17,000 crore.
The first phase features 330 apartments across three residential towers, which were sold out within three days of launch, generating โน450 crore in revenue. The apartments, ranging from studio to 3 BHK units, were priced between โน80 lakh and โน2.85 crore.
Key Features:
– 225-acre integrated township project with a 3.5 km beachfront and integrated water sports and hotel facilities
– Investment of โน5,000 crore with an estimated GDV of โน17,000 crore
– Strong demand with all 330 apartments sold out in the first phase, generating โน450 crore in revenue
– Branded residences to be launched in the second phase, offering fully furnished spaces with restaurants, food services, and rental management
The project is expected to be a major driver of growth in Alibaug, with improved connectivity and infrastructure. The company plans to launch more phases, including plots with amenities and villas, and is in talks with hospitality groups to develop five-star hotels in the area.
Image Courtesy: Hindustan Times
