Home Real Estate Housing Development and Infrastructure (HDIL), a major player in the Mumbai suburbs, said today it has increased and follow-up plans to enter the lucrative market of South Mumbai with the launch of up to five projects there by next March.
The company will from the penalty spot with a piece of square meters in 6000 and early in the next few months, said Managing Director Sarang Wadhawan told reporters here.
He said Wadhawan HDIL has lined up to five projects in South Mumbai with 8-10 million square feet of built space to launch by March.
He said that in addition to this, the company is also close to the closure of two development projects.
South Mumbai has seen an increased focus of the squad, such as real estate and real estate for kindly DB, especially in the residential sector, which are extremely profitable.
Unlike his counterparts, HDIL will be limited to building the structures of 40-50 floors, its Chairman, Rakesh Kumar Wadhawan, told shareholders at its Annual General Meeting here today.
"The establishment of 70 or a tower of 80 floors is good ... but it takes nearly seven years to implement such a project, and we can not secure the funds we have for a long time and would be happy to do 40-50 - storey building, which takes three years," said Chairman of the Board of Directors.
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