Announcing its aggressive foray into leisure home building, realty developer Hiranandani group has forayed into the segment with two of its projects in Khandala and Alibaug near Mumbai at an investment of Rs.6,000 crore, said CMD, Hiranandani Communities, Niranjan Hiranandani, claiming to start with the developer work on the launch of the first phase of both projects which will include plotted developments for luxury villas. Hiranandani Group of companies have been successful in the mixed-use integrated townships, now trying their hands on leisure. In both these locations, it will create integrated townships with leisure as the central theme of both the locations have tourism and second homes as the central aspect; so it was logical for the company to plan both as integrated leisure townships. These projects are also expected to see development of luxury hotels, sailing clubs, and water sports hubs. For both projects, the builder is looking at investment of Rs.3,000 crore each. As part of first phase of Alibaug development, to be known as Goa-esque Alibaug, the company will be offering 43 villa plots each with a size of 5,000 sqft at Nagaon village for price of Rs.1 crore. Currently, the location has floor space index or permissible development limit of 0.5 times.
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