Adani Realty is planning to launch seven million square feet of new projects this year and taking quite aggressive moves on project launches. It has planned seven million square feet of new projects, which is 50% of the total area delivered in the last three years. The company is newly built and has delivered around 14 million square feet in the last three years.
Firm aims to come up with a dozen new residential and commercial projects in West and North India by 2020 to meet the goals. The plan is to launch seven million square feet across our markets of Mumbai Metropolitan Region (MMR), National Capital Region (NCR), Ahmedabad and Pune.
The Ahmedabad-based real estate company will be focusing on two residential segments – middle and affordable and there are four projects including residential and commercial in the pipeline in Ahmedabad.
In the mid-segment, it plans to come out with compact sizes in the range of 600 to 900 square feet carpet area.
In the Mumbai Metropolitan Region (MMR), the company has lined up four projects, including three in affordable housing and one in the mid segment. A couple of months back, the company launched a high-end project in Byculla.
Five projects are lined up for NCR. But going forward, across regions, there would be a lesser focus on the luxury segment. The company recently launched a few high-end projects – Vilasas in Gurgaon, a project in Pune’s Koregaon Park and the second phase of a luxury building in South Mumbai.
Under affordable housing, Adani Realty is working to launch three projects in the MMR in the next calendar year – one project each in Panvel (township), between Borivali and Virar and between Thane and Kalyan.
A similar plan is in the pipeline to launch the third phase of affordable housing in NCR’s Gurgaon. On coming July, the company plans to launch a 6.5 lakh square feet project in Delhi and a club house in the NCR. It is also looking at a project of around 6 lakh square feet in Ahmedabad.