Thane-based real estate brand Vihang Group has achieved a remarkable feat by selling 200 apartments in its newly launched ‘Capital of Thane’ project within just 10 days, generating a revenue exceeding INR 150 crores. The success underscores the strong demand for residential properties along Thane's Ghodbunder Road. With an ambitious investment plan of INR 850 crores this year, Vihang Group aims to launch three more projects in the same micro-market. It is projecting an estimated sales potential of INR 2000 crores and anticipating a steady increase in expenditures over the next five years.
Vihang Group, a prominent real estate brand headquartered in Thane, has marked a significant milestone by selling 200 apartments in its recently launched project, Capital of Thane, within just 10 days of its launch. The robust sales performance underscores the demand for residential properties along Thane's Ghodbunder Road. This success has translated into a remarkable revenue of over INR 150 crores for Vihang Group.
Approximately 80% of homebuyers who engaged with Vihang Group sought upgrades in terms of larger spaces, superior amenities, and enhanced connectivity. The company's competitive pricing strategy served as an additional catalyst, creating a compelling value proposition for discerning buyers. The remaining 20% comprised investors leveraging the anticipated growth from upcoming infrastructure projects, contributing to a noteworthy 10% year-on-year appreciation in the Ghodbunder Road locality.
Embarking on an ambitious investment plan, Vihang Group has earmarked INR 850 crore for deployment this year. The company's strategic blueprint includes the launch of three additional projects in the same micro-market over the next two quarters, projecting an estimated sales potential of INR 2000 crores. To finance these endeavors, Vihang Group employs a comprehensive funding strategy that combines equity, bank loans, and cash advances from customers.
The anticipated trajectory involves a steady increase in expenditures over the next five years, amounting to INR 2,500 crores. Vihang Sarnaik, Director of Vihang Group, attributes the rapid sellout of the Capital of Thane project to the growing demand for an aspirational lifestyle characterized by larger living spaces—a distinctive feature offered by the group.
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