Royal India Corporation Limited (RICL) is investing INR 450 crore into Kalyan Marina, a transformative project in Kalyan, Maharashtra. Spanning 2.2 acres, the development aims to create 5 lakh square feet of modern living, office, and retail spaces. Sunder Iyer and Mangal Keshav's family offices are backing the project with a preferential issue of INR 100 crore, showcasing confidence in Kalyan's growth. Kalyan Marina's strategic location near Kalyan Station aligns with the ongoing INR 900 crore modernization project, promising enhanced connectivity and convenience. This significant investment signals Kalyan's emergence as an attractive destination for residential and commercial ventures, bolstering its future prospects.
Royal India Corporation Limited (RICL) is investing INR 450 crore into a major new development project in Kalyan, Maharashtra. The project, called Kalyan Marina, is set to transform the area by offering modern living spaces and potentially boosting the city's infrastructure.
Spread across a sizable 2.2-acre plot, Kalyan Marina has the potential to develop a total of 5 lakh square feet of space. This significant development could translate to hundreds of new apartments, office spaces, or retail areas, catering to the growing needs of Kalyan's residents and businesses.
Kalyan Marina has attracted the attention of prominent figures in the Indian real estate industry. Sunder Iyer and Mangal Keshav's family offices are investing in the project, becoming the largest non-promoter shareholders after a preferential issue of INR 100 crore. This preferential issue is expected to open after April 25, 2024. The involvement of these experienced investors signifies their strong belief in the project's potential and Kalyan's future growth trajectory.
News reports suggest that Kalyan Marina will be conveniently located near Kalyan Station. This is significant news as the station itself is currently undergoing a major INR 900 crore modernization project. This upgrade aims to improve punctuality and reduce passenger inconvenience by separating express and local train tracks. The combined efforts of RICL's development project and the government's infrastructure improvements have the potential to significantly enhance connectivity and convenience for residents of Kalyan Marina and the surrounding areas.
Kalyan is a growing city with immense potential. The Kalyan Marina project, expected to generate revenues of INR 175 crore, is expected to be a catalyst for further regional growth and development. This development, characterized by luxury, convenience, and connectivity, promises to transform Kalyan into a premier real estate destination.
The Kalyan Marina project, along with the ongoing improvements at Kalyan Station, represents a substantial investment in Kalyan's future. With the potential for modern living spaces, improved infrastructure, and potential job opportunities arising from the development, Kalyan is set to become an even more attractive place to live and work.
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