Hirco to Invest $198 mn in Mumbai Township

October 26, 2007	(2 votes, average: 3 out of 5)  Loading ...
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Indian property developer Hirco put $198.1 million in a 280-acre mixed Township development project in proximity to Mumbai.

The Panvel Residential Township, which comprises 18.3 million square feet of planned residential and retail space, is situated near the planned second Mumbai International Airport. The project is very close to Mumbai’s Central Business District.

The Township is designed to cater increasing demand of residential property from India’s middle classes in Mumbai-Pune growth corridor. The company is likely to offer flats, townhouses, villas, healthcare facilities, and other amenities required to create an excellent structure.

The Township will be located adjacent to the Panvel Commercial Township development which the Hirco began in July.

The combined Panvel site was recently given the title of Special Economic Zone (SEZ), a status which brings special tax privileges on investors and occupiers.

The township was first identified as a possible investment opportunity at the time of Hirco’s admission to London’s junior stock exchange, AIM, in December 2006.

The Township was earlier seen as an excellent investment prospect at the time of Hirco’s admission to London’s junior stock exchange, Alternative Investment Market (AIM) in December 2006.

News Published Under:   Special Economic Zones |

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