Hiranandani Communities enters Goa property market through two partnerships

MUMBAI: Realty developer Hiranandani Communities has entered into partnerships with two regional developers in Goa to provide project management consultancy (PMC) services for residential projects, marking its entry into the state’s property market.

The two projects, spread across a five-acre land parcel, have a combined development potential of over 250,000 sq ft and an estimated project value of around Rs 450 crore.

Through its PMC business Eleva by Hiranandani, the group will provide project management consultancy services to Azul Amor LLP for Aria Residency and to Shree Yagna Builders and Developers for premium villas.


“Goa is evolving into a year-round residential and coastal lifestyle destination, driven by improved connectivity, hybrid living, increasing demand for homes from established branded developers, and customers’ growing propensity towards experiential living. Our Eleva business model enables us to capitalize on Goa’s growth story through project management consultancy-led strategic partnerships with established local developers,” said Niranjan Hiranandani, CMD, Hiranandani Communities.

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According to him, this allows the company to expand the real estate footprint, increase market share and extend brand expertise to new geographies across India, while creating value for our partners and customers.

The two projects are located in high-growth corridors and are being positioned to cater to rising demand for premium housing in Goa. Both developments are registered under the Real Estate (Regulation and Development) Act (RERA).

The regional developers have onboarded The Guardians Real Estate Advisory as a strategic partner to lead the sales and marketing mandate for the projects.

Goa’s residential real estate market has been gaining traction as the state evolves from a predominantly tourism-led destination into a year-round lifestyle and residential market. Greater work flexibility, hybrid living and changing lifestyle preferences have contributed to increasing demand for second homes and longer stays in the state.

Improved connectivity is also supporting this shift, with the operationalisation of Manohar International Airport at Mopa and the ongoing upgrade of the Mumbai-Goa National Highway improving accessibility.

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The market is witnessing growing interest from high-net-worth individuals (HNIs), non-resident Indians (NRIs) and second-home buyers, alongside the entry of established branded developers. This is bringing greater depth and organised project execution to the state's premium residential market.

The Goa partnerships mark an expansion of Eleva by Hiranandani’s strategy to enter high-potential real estate markets through collaborations with regional developers.

Under the model, Eleva provides project management and execution expertise to developments undertaken by local partners, enabling the Hiranandani Group to expand its presence in new geographies without directly taking on the role of the project developer.

The expansion is being pursued through a capital-light development model, under which Eleva partners with regional developers and contributes its project management and execution expertise without directly taking on the land acquisition and development capital requirements.

The model allows the Hiranandani Group to expand into new geographies while leveraging local developers’ land and market knowledge and limiting its upfront capital deployment.