House of Hiranandani Commits ₹5,000 Crore to Chembur Redevelopment

House of Hiranandani, a prominent developer in the Mumbai Metropolitan Region (MMR), has significantly expanded its footprint in the city’s redevelopment segment. The company has announced the signing of redevelopment projects totaling 17 lakh square feet, with a gross development value of ₹5,000 crore. The company has entered into agreements to redevelop five major housing societies in Chembur, investing ₹3,200 crore.

These projects encompass 459 tenants and include the redevelopment of Maitri Park in Chembur East (approximately nine acres) and a cluster of four societies at Shrinagar in Chembur West (approximately six acres). House of Hiranandani is currently working to secure the necessary approvals for these projects and aims to complete the redevelopment within the next 4-5 years. The company has also expressed interest in the sprawling Chheda Nagar complex in Chembur. Surendra Hiranandani, Chairman and Managing Director of House of Hiranandani, emphasized the company’s strategic focus on redevelopment in Mumbai.  He highlighted the scarcity of space in the city and the potential for redevelopment to unlock value in older, dilapidated buildings. Hiranandani expressed the company’s vision to create world-class infrastructure and amenities for residents while transforming congested areas into planned, sustainable, and liveable communities.

Beyond Chembur, House of Hiranandani is actively exploring other redevelopment opportunities in Mumbai. Their recent project, Castalia in Kandivali, is expected to be completed in 2025. To effectively manage their redevelopment projects, House of Hiranandani has established dedicated teams for both society redevelopment and SRA redevelopment. These teams are focused on creating landmark developments in the city and unlocking value for both the company and the tenants. In addition to residential projects, House of Hiranandani has a strong track record in the commercial sector, having developed over 12 million square feet of commercial space. To date, the company has delivered 25,375 homes, developed 45.82 million square feet of residential and commercial space, educated 89,664 students, and planted over 61,670 trees.