"Vihang Group Unveils Four Thane Projects, Envisages ₹2,000 Crore Revenue Potential"

Thane-based real estate developer, Vihang Group, has recently launched four ambitious residential projects in various micro markets of Thane, a prominent part of the Mumbai Metropolitan Region. These projects, collectively offering a deliverable area of 5 million square feet, hold a substantial revenue potential of ₹2,000 crore.

With a significant investment of ₹850 crore, sourced through a combination of equity, bank loans, and customer advances, the group foresees an additional expenditure of ₹2,500 crore over the next five years. Vihang Group, renowned for completing over 20 projects with a delivery of over 3 million square feet, specializes in residential developments, offering homes in the price range of ₹45 to ₹90 lakh, categorized as aspirational homes.

Vihang Sarnaik, Director of Vihang Group, stated, "We are dedicated to crafting aspirational spaces that embody sophistication and comfort for ambitious professionals and millennials who want to call Thane their home."

The projects are anticipated to be completed by 2027, with approximately 80% of the space allocated for residences. The remaining space will be dedicated to educational facilities, hospitality, and various lifestyle activities. In the recent December quarter alone, the company successfully sold over 600 units.

Thane has emerged as a favored destination for real estate developers, driven by significant improvements in infrastructure. The city has witnessed substantial investments in roads, transportation, such as the metro, and civic amenities. The development of highways and expressways connecting Thane to major business districts has further enhanced its accessibility.

Noteworthy real estate players, including Godrej Properties and Oberoi Realty, have redirected their focus towards Thane due to its open spaces. While this has influenced price trends to some extent, there remain opportunities for companies like Vihang Group to construct homes catering to the mid-income and aspirational segments.

HBL