“We are very Bullish in this year,” says Mr. Niranjan Hiranandani

By Nikita Parekh

IMG-20150129-WA0008Hiranandani Developers the real estate giant and leading developers of Mumbai existing since 37 years is not only constructing buildings but creating homes for the customers. The Group is known for its projects of Hiranandani Gardens, Powai, Hiranandani Meadows, Thane, Hiranandani Estate, Thane, Hiranandani Business Park Powai & Thane. Mr. Niranjan Hiranandani Co- Founder & Managing Director of Hiranadani Group, a qualified Chartered Accountant, his first spark of recognition in the construction business came with the Group’s project at Versova, Andheri in the mid-eighties. Since then, the Hiranandani Group has come a long way and is recognized for their modern state of the art mixed used township projects in Powai & Thane, both of which have become preferred residential and commercial locations in and around Mumbai.

To know about the Hiranandani Group’s plans for 2015, Nikita Parekh from Accommodation Times gets in Conversation with Mr. Niranjan Hiranandani, where He talks about company’s upcoming projects, their expansions plans and the latest developments in the Real Estate sector.

      1. Sir, the new year has already arrived so what are your plans for this year?

Ans: We are very Bullish this year! This year we are coming up with five projects and again starting our Panel project, we are emerging into a new city Chennai ‘Hiranadani Parks’ it is a new  mixed-use township project sizing 1.6 million sq. ft. we may launch the project within six months. We are commencing with 2 million sq.ft area at Panvel SEZ mainly focusing on IT & financial services. We are setting up a complex of 15 storeys in Gujarat International Finance Tec-City (GIFT city) that is coming up as a Special Economic Zone (SEZ) largely devoted to finance and financial services. In Kandala we are Constructing Bungalows over a land parcel of 500 acres and in AlibaugH we are coming up with a Resort spread over 250 acres. Lastly we have a new industrial project in Talegaon over 250 acres

2. So besides residential and commercial project are you planning any Hospitality projects?

Ans: Yes of Course, we are developing a Hotel in Dubai in partnership with French Hotel operator Accor, it is a budget hotel in Dubai’s Business Bay.

3. Tell us something more about your Venture in Ahmedabad market.

Ans: This is the first time we are up with a SEZ project in the Gujarat International Finance Tec-City (GIFT city), it is a great project, Ahmedabad is the next hot spot destination in the land of opportunities.

 IMG-20150129-WA0005    4. According to you what is the Current scenario of real estate market in the Country?

Ans: Currently the market is sluggish, residential sales are Very down, but commercial market is good, recently we Have seen good sales in our Commercial projects. Market will soon pick pace as the economy will grow and GDP increases. As per my estimations by June market will pick-up.

5. What are your expectations from the BJP government?

Ans: We Have got a Very nice Prime Minister in Narendra Modi, He Has great potential and Has brought Country at a level where no other Prime Minister Has taken. In His Vision and guidance Indian economy will grow Very rapidly. I expect growth in terms of Infrastructure and real estate sector.

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