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« Sobha Developers Announces Launch of Luxury Housing Project in Bangalore | Home | BPTP’s Plans Residential Project “Park Arena” in Faridabad »

Ahmedabad Realtor to Foray into Mumbai Commercial Real Estate

Ahmedabad-based Dharmadev Infrastructure is planning to foray into commercial realty market in Mumbai. The company will come up with ‘Swaminarayan Mall’ in Malad. The company has already acquired land for the mall and is in the process of acquiring various permissions, according to a report published in DNA. “This is a commercial complex-cum-mall, which will be developed on 2 lakh square feet land,” said Umang Thakkar, chairman and managing director of Dharmadev Infrastructure.

The proposed mall will be located just outside Malad station. “We want to develop it purely as a commercial centre without mixing it with entertainment and other things,” he said. One of the most important features of the mall will be parking space. The company plans to allot two floors in cellar for parking. Dharmadev Infrastructure is planning to invest around Rs 50 crore in this project. The construction work is expected to commence within two months and it will take around two years to complete the project.

Comparing the real estate market in Ahmedabad and Mumbai, Thakkar said the two markets are completely different and hence, they have forayed into Mumbai’s commercial property market. “In Ahmedabad, residential sector is booming, while in Mumbai both segments, residential as well commercial, are witnessing good growth and it is likely to continue in the future too,” he said. Dharmadev Infrastructure is a well-diversified group with its presence in residential, commercial, industrial property development as well as hospitality sectors.

News Published Under:   Mumbai, Pune, Real Estate Developers, Real Estate India | No Comments »

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