Piramal Realty, the real estate development arm of the Piramal Group, on Wednesday announced its foray into the value housing segment, with an investment of about ₹1,500 crore at Piramal Vaikunth, Thane.
The new first project by Piramal Realty would be a part of the larger township in Thane with a development potential of around ~2 million sq. ft. The newly-launched Cluster 3 will offer 1, 1.5 and 2 BHK apartments with access to premium amenities starting at 350 sq. ft. carpet area at ₹60 lakh.
Located in the heart of Thane, this project also features an ISKCON temple complex spread across ~2.75 acres.
Commenting on the launch, Anand Piramal, Founder, Piramal Realty, said, “With millennials at the helm, we have witnessed an increased traction towards the value segment over the last few quarters. Our foray into this segment is in line with our expansion plans of creating presence across the consumer demand pyramid. With this launch, our aim is to create homes that significantly improve the quality of life for the youth and first-time homebuyers by setting gold standards in customer-centricity, architectural design, quality and safety”.
Piramal Vaikunth is a residential complex, designed for community living, spread over 32 acres in Thane. The project partners with firms such as Chicago-based architectural firm, HOK; London-based structural & services engineers, BuroHappold; vertical transportation partners, Lerch Bates; design architects, DSP Design; US-based project managers, Turner Construction Company; and traffic consultants, Systra MVA Consulting.