Adani Realty to invest Rs 1,200 crore in Mumbai project

MUMBAI: Adani Group's real estate arm, Adani Realty Business plans to invest Rs 1,200 crore for constructing a 29-storeyed structure in suburban Mumbai.

"We plan to invest around Rs 1,200 crore for this project which will be one of the tallest structures in this area. We expect to launch the project in May-June," Adani Realty Business Chief Executive Officer Tarwinder Singh said in a statement issued here today.

The upcoming project in the plush area of Lokhandwala Complex and Seven Bungalows in Andheri, will offer premium retail and commercial office space of about 1.3 lakh square feet and nearly 7.5 lakh square feet of residential space, he said.

"The newly-proposed project has been specially designed, keeping in mind the requirements of different categories of groups in Mumbai. It is well connected to different parts of the city and also close to many upmarket entertainment and retail hubs," Singh said.

The company is also planning to develop over 400 residential units ranging from 2 BHK plus study to 4 BHKs, he said.

"The project will offer easy accessibility to upmarket retail and entertainment hubs like Infinity Mall, City Mall, Fun Republic, Lokhandwala High Street," Singh added.