Press Release: Piramal Realty : Piramal Realty To Invest Rs 3500 Crore In Three Years To Develop Mid Market Projects

Mumbai: Piramal Realty, the real estate development arm of the Piramal Group, is planning to invest over Rs 3,500 crore to develop residential projects in Mumbai Metropolitan Region (MMR) over the next 3 years with a significant focus on mid-market segment, said a top company official. The company, which counts Goldman Sachs and Warburg Pincus as its investors is foraying into the mid-market compact housing segment with a 5-acre development as part of its larger 32-acre township project Piramal Vaikunth in Thane. Of the total planned investment of Rs 3,500 crore, the company will be investing Rs 1,500 crore to develop 2 million sq ft on this 5-acre plot. The company will be offering 1 and 1.5 bedroom apartments with configurations of 350-500 sq ft priced at Rs 60 lakh to Rs 80 lakh. .... Read More