'One Hiranandani Park' in Thane
Mumbai-based Hiranandani Group unveiled its luxury private apartment project, “One Hiranandani Park” recently. The project is located in the heart of Thane’s Ghodbunder Road and offers 1,2, 3 and 4 BHK premium-luxury apartments in 8 high-rise towers. The possession of the first phase of this 21-acre project is expected around 2019.
Oberoi Realty launches 'Sky City' in Borivali
Real estate player Oberoi Realty recently launched a multi-tower residential project ‘Sky City’ in Borivali in suburban Mumbai and expects to gain Rs10,000 crore revenue from it. Spread over 25 acres, the project would consist of 10 towers of 60 storeys each, with a saleable area of over 5.5 million sq ft. The project would comprise expansive three bedrooms in various configurations with prices starting from upwards of Rs2.5 crore.
Company's Chairman and MD Vikas Oberoi said the revenues generated from this project would be used for new projects and buying land parcels. Also, it would be used to repay its debt of around Rs500 crore.
“Last year, we had raised Rs 750 crore through non-convertible debentures (NCDs). We have so far repaid Rs250 crore and the remaining Rs500 crore, we plan to repay in the next 18 months,” he said.
— Based on information provided by the developers
