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'Growth of Real Estate in Mumbai & MMR needs Time-bound Infrastructure Development,' Niranjan Hiranandani

December 8, 2015 - Mumbai, Maharashtra, India

Business Wire India
Mumbai’s real estate as also real estate development across the Mumbai Metropolitan Region (#MMR) will be a success story written with infrastructure projects – and their timely completion, said Niranjan Hiranandani, Managing Director, Hiranandani Communities and Founder-First President, #NAREDCO (Maharashtra).
Elucidating on this aspect, Niranjan #Hiranandani enumerated projects such as the Sewree – Nhava #Trans-Harbour Bridge; increased Metro connectivity and the #Pinjal River project, as being necessary for real estate development in Mumbai and the MMR. To these three, he added the aspect of change in zoning and land use, granting of #FSI and proper usage of reclaimed of land. He also pointed out that the coastal road for Mumbai had the potential to be the largest flower bed and lawn surrounding Mumbai’s coast, effectively increasing green cover and aiding ecology.
“In the context of real estate development in Mumbai, development of infrastructure is necessary for growth of real estate,” he said, adding that the 4000 acre of #saltpan land in Mumbai alone can create 5 lakh units of #affordable housing. “Improvement of the slums around the city as also development in slum policy which will make it effective can help solve the problem of affordable housing in Mumbai,” said Niranjan Hiranandani.
Bringing in development in the MMR, he spoke about the vision of Project #Naina, which had been shared by #DevendraFadnavis, the Hon'ble Chief Minister of Maharashtra. “NAINA is expected to add around two times the land area of Mumbai to the MMR in form of a city, and this has the potential to make ‘housing for all’ a reality,” he concluded. 

Niranjan Hiranandani is Founder & MD, Hiranandani Group, his recent initiative is Hiranandani Communities. He is the Founder and First President (Maharashtra), National Real Estate Development Council (NAREDCO), which works under the aegis of Ministry of Housing & Urban Poverty Alleviation, Government of India.

Source: Business Wire India


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