Hiranandani Group deploys Rs 1,000 crore to develop 2.6 mn sq ft of commercial space in Thane

As India Inc realigns its business continuity plans after the second wave of COVID-19, Hiranandani Business Park, Hiranandani Group has deployed nearly Rs 1,000 crore to develop a 2.6 mn commercial real estate space in Hiranandani Estate township spanning across 350 acres in Mumbai.

Located on Ghodbunder Road, Thane, the ready-to-lease ‘Quantum’ is a 25-storeyed tower spread across 0.6mn sq ft. It has received the occupation certificate. The Centaurus tower is 21 storeys and is spread across 2mn sq. ft. It will be ready by December 2022.

This new commercial development goes well with the theme of workspace near homes trend that has emerged post the pandemic. The two commercial towers will offer a walk-to-work lifestyle balancing employee wellness and customer-centricity.

“Value offices near value homes in an integrated township offers a value proposition in terms of emerging location, futuristic infrastructure and thriving socio-civic amenities offering holistic living at all-inclusive destinations,” said Niranjan Hiranandani, founder and managing director, Hiranandani Group.

The group has delivered 3.5 mn sq. ft of commercial space in Thane.

Ghodbunder Road, Thane is the major arterial road linking Mumbai - MMR’s transport linkages. The slew of mega infrastructures like Metro 4, 4A and 5, an underground tunnel from Borivali to Thane, Coastal road and inland waterways in Ulhas river are being developed, making it the preferred choice for BFSI, IT and ITeS, pharma, R&D, shipping and global logistics companies.

It suits corporates and MNCs looking at consolidation and expansion in a central location; it also works for the ‘hub and spoke’ model of satellite offices located closer to human resources, especially in the ‘new normal’ world, the company said.