Hiranandani Group introduces Eleva, a service consultant development model providing expertise in development, construction, design, marketing, and sales solutions for landowners and developers. Founder Niranjan Hiranandani notes the potential to aid projects in the market. The initiative, requiring no new investment, focuses on utilizing existing infrastructure. The first project, Vista in Andheri West, Mumbai, spans 3.33 lakh square feet, with plans for five projects covering nearly five lakh square feet by March 2024. The model's service-fee revenue approach positions the group as consultants for landowners with clear titles and statutory approvals.
Hiranandani Group, a venerable Mumbai-based real estate developer, has introduced Eleva, a novel consultancy model designed to provide comprehensive expertise in development, construction, design, marketing, and sales solutions to landowners and developers. Niranjan Hiranandani, the group's founder, expressed optimism about the model's applicability in various market scenarios. Notably, the group has received inquiries from financial institutions seeking assistance with sales and balancing construction for distressed projects. Hiranandani clarified that there will be no fresh investments, leveraging the existing infrastructure. However, he acknowledged the need for additional personnel based on forthcoming work requirements. The group has initiated its inaugural project, Vista, spanning 3.33 lakh square feet in Andheri West, Mumbai. Comprising three towers, each with 33 storeys, the project offers two- and three-bedroom apartments at prices ranging from Rs 3 crore to 3.7 crore and Rs 4 crore to 4.5 crore, respectively. RERA approvals have been secured, with the project set for completion in December 2028. Andheri West will witness the debut of the development service model, followed by Versova and Chembur. Niranjan Hiranandani outlined ambitious plans, aiming to launch five projects covering nearly five lakh square feet by March 2024, with an anticipated turnover of Rs 1,000 crore. Operating under a service-fee revenue model, the group assumes the role of a consultant for landowners and developers possessing clear land titles and statutory approvals. Furthermore, the group is open to evaluating potential collaborations with stalled or stressed projects. This strategic foray into consulting aligns with the Hiranandani Group's vision of providing end-to-end solutions across the real estate spectrum. Niranjan Hiranandani emphasized the versatility of Eleva, addressing diverse market needs beyond conventional development and showcasing its potential as a valuable resource in navigating complex scenarios. The group's emphasis on manpower augmentation underscores its commitment to delivering quality service, with hiring aligned to project demands. Vista, as the flagship endeavor under this model, symbolizes the group's dedication to excellence, adhering to RERA timelines for transparent and timely project completion. Looking ahead, the Hiranandani Group positions Eleva as a catalyst for transformative collaborations, enabling partnerships with entities grappling with distressed projects. Niranjan Hiranandani's proactive approach to responding to market demands positions the group as a dynamic player with a commitment to operational efficiency. In summary, the launch of Eleva marks a strategic move by the Hiranandani Group to extend its expertise beyond traditional development. With an inaugural project underway, ambitious expansion plans, and a commitment to service excellence, the group positions itself as a consultant of choice in the evolving real estate landscape. Established in 1978, Hiranandani Group, a Mumbai-based real estate developer, aspires to shape a self-sufficient India through holistic townships. The group extends its impact across real estate, education, healthcare, hospitality, leisure, and entertainment, prioritizing excellence and customer satisfaction. Renowned for quality, reliability, and architectural brilliance, Hiranandani Group commits to delivering a lifetime experience through its infrastructure—a harmonious blend of quality, beauty, and longevity.
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