Hiranandani to invest Rs 1,000-cr in Panvel residential project
Hiranandani Communities plans to invest Rs 1,000 crore to develop a premium residential project in Panvel near Mumbai. The new sector, 'Golden Willow,' will offer luxury homes ranging from 490 to 1,150 sq ft and will be funded through internal accruals and construction finance. The development is expected to be completed in three years and is part of the mixed-use integrated township, Hiranandani Fortune City. The Panvel-Karjat region is gaining renewed connectivity with Mumbai, including the JNPT seaport, Navi Mumbai international airport, trans-harbour link, coastal road, metro rail, and multi-modal corridor, expected to drive growth. The Maharashtra government is developing infrastructure and knowledge-based industries in and around Neral-Karjat region near Mumbai and initiating the Navi Mumbai Airport Influence Notified Area (NAINA) project as Mumbai 3.0.