Naiknavare Developers, a Pune-based construction company, successfully handed over homes to 80 families in Mumbai's Vakola neighbourhood, Santacruz, as part of the 'Jagruti' Slum Rehabilitation Project (SRA). Initiated in December 2022, this project spans approximately 12 acres. The newly completed G+9 tower provides 80 units, each with a 300-square-foot carpet area. Future phases will include amenities like a gym, nursery school, and society office. During the key handover ceremony, Chief Guest MLA Sanjay Potnis praised the initiative. Naiknavare Developers, known for its SRA projects, aims to empower slum residents and has a robust portfolio across Pune and Mumbai.
Naiknavare Developers, a Pune-based construction company, has successfully handed over homes to 80 families in Mumbai's Vakola neighbourhood, Santacruz. This marks a significant milestone for the 'Jagruti' Slum Rehabilitation Project (SRA) which began in December 2022 and spans a total area of approximately 12 acres.
The recently completed tower is a G+9 structure, providing new homes for 80 families. Each unit meets the government-mandated carpet area of 300 square feet, ensuring comfortable living space. Future phases of the project will include additional amenities like a gymnasium, nursery school, and a society office, creating a more well-rounded living environment for residents.
"We are delighted to hand over these homes to the 80 deserving families under the Slum Rehabilitation Authority," said Mr. Hemant Naiknavare, Director of Naiknavare Developers. He emphasized the company's commitment to "quality and timely delivery" and its mission to "provide superior housing solutions to the people most in need."
The key handover ceremony included Chief Guest MLA Sanjay Potnis, who congratulated Naiknavare Developers for their work. He stated, "I am honored to be here today to witness this remarkable milestone. This initiative sets a benchmark for future redevelopment projects in Mumbai."
The handover is part of a larger redevelopment strategy for the area. Naiknavare Developers has a proven track record in completing SRA projects in Pune and holds one of the largest portfolios in this asset class. In total, the company has delivered 1400 units across Pune and Mumbai, with 78 units being handed over today. An additional 370 units are scheduled for handover in the next 12 months.
Beyond construction, Naiknavare Developers is committed to social responsibility and aims to improve the lives of those living in poverty. Their mission is to empower slum residents to achieve a better lifestyle and create vibrant, slum-free communities.
The current property price in the Vakola, Santacruz area is around INR 25,000 per square foot, with an expected appreciation of 10% in the next 2-3 years. This reflects the growing demand and development in the micro-market.
Naiknavare Developers is a major player in the construction industry, with experience in various projects including affordable housing, slum rehabilitation, commercial spaces, and more. The company has a presence in several cities across India and has delivered over 18 million square feet of construction, with an additional 6 million square feet planned for the future.
Advertisement
Facebook
Whatsapp
