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Paradigm Realty Unveils 2.5 Million Sq ft Redevelopment Project in Mahavir Nagar, Kandivali West
- 10th Jul 2024
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![Paradigm Realty Unveils 2.5 Million Sq ft Redevelopment Project in Mahavir Nagar, Kandivali West](https://www.ghar.tv/blog/pics/1642.jpg?1725756330)
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Transforming Mahavir Nagar with a 3500 Crore Development
Mumbai-based Paradigm Realty has announced a significant redevelopment project in Mahavir Nagar, Kandivali (W), encompassing over 2.5 million sq. ft. This ambitious venture is backed by a 200 crore investment through internal accruals. Spanning a ~4-acre land parcel, the project features free-sale RERA carpets of up to one million sq. ft., with an impressive gross development value of approximately INR 3500 crore (USD 0.44 billion).
A New Era of Luxury Living
Paradigm Realty’s new initiative will revitalize 9+ societies, resulting in the creation of 600 premium residential units. The redevelopment is expected to generate revenue of INR 3500 crore. Currently, the per sq. ft. cost for under-construction properties in Kandivali Mahavir Nagar ranges from INR 32,000 to 38,000, highlighting the premium nature of this project, with ready-to-move-in properties exceeding INR 45,000 per sq. ft.
Prime Location with Unmatched Connectivity
Strategically located at the intersection of a 120-feet wide link road and the 90-feet wide main Mahavir Nagar Road in Kandivali, this project capitalizes on its prime location. Paradigm Realty plans to develop a world-class, premium gated community designed to cater to the area’s affluent business community, ensuring a luxurious living experience.
Key Highlights
- Developer: Paradigm Realty
- Location: Mahavir Nagar, Kandivali (W), Mumbai
- Project Size: Over 2.5 million sq. ft.
- Land Parcel: ~4 acres
- Investment: 200 crore through internal accruals
- Development Value: Approx. INR 3500 crore (USD 0.44 billion)
- Residential Units: 600 Per Sq. Ft.
- Cost: INR 32,000 - 38,000 (under construction), INR 45,000+ (ready to move in)
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