Square Feet group to invest ₹1500 crore in four projects in Thane | Mumbai news - Hindustan Times

Square Feet group to invest 1500 crore in four projects in Thane

Feb 09, 2024 02:22 PM IST

The projects include a business centre in Wagle Estate, twin residential towers in Kolshet and an integrated township at Ghodbunder Road

Thane-based Square Feet Group has announced a strategic investment exceeding 1500 crore across three prime residential and commecial projects in different micro markets of the city.

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Spanning 5 million sq ft, the projected revenue potential from the projects is expected to be 3500 crore.

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Sachin Mirani, Director of Square Feet Group, said, ‘’Our upcoming projects are strategically designed to cater to the aspirational class and millennials, embodying our unwavering commitment to delivering exclusive living experiences that epitomise modernity and affordability.”

He said the funding for these projects, totalling 1500 crore, will be sourced from a combination of equity, working capital, and customer advances. The company aims to complete these developments by 2027, with a significant 70% focus on residential spaces boasting the best lifestyle ecosystems. The remaining 30% will be dedicated to commercial and retail spaces.

The group plans to launch a state -of-the-art business centre in Wagle Estate, which the Square Feet group has a presence. It also plans to develop twin residential towers designed exclusively for millennials in Kolshet. The group also plans to develop an integrated township at Ghodbunder Road.

Square Feet Group has a robust presence in emerging Mumbai Metropolitan Region (MMR) micro-markets, including Sheel Road, Kalyan, Bhiwandi and Ambernath, catering to affordable housing needs across MMR.

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