MICL’s Aaradhya Avaan project at Tardeo in South Mumbai has a planned height of more than 1,000 feet. The current tallest building in India stands is Lodha World Towers which is around 918 feet tall, as per data from a real estate consultancy firm.
Updated Nov 21, 2023 | 01:47 PM IST
Mumbai: Mumbai may soon house India’s tallest building. Man Infraconstruction Limited (MICL) has claimed that the Tardeo project in South Mumbai is set to be one of the tallest buildings in the country. With sales of three residential real estate projects in Mumbai including – the country’s tallest building in South Mumbai and projects in Ghatkopar and Goregaon- the listed company is eyeing a revenue potential of over Rs 8,000 crore.
The Tardeo project in South Mumbai is expected to have a revenue potential of over Rs 3,000 crore, followed by Rs 4,000 crore revenue from a project in Goregaon and Rs 1,200 crore from cluster redevelopment of 10 buildings in Ghatkopar area of Mumbai, according to the information shared by MICL during the Q2FY24 conference call, a moneycontrol report said.
India’s tallest building in South Mumbai?
MICL’s Aaradhya Avaan project at Tardeo in South Mumbai has a planned height of more than 1,000 feet. The current tallest building in India stands is Lodha World Towers which is around 918 feet tall, according to data from CBRE India, a real estate consultancy firm.
“This ultra-luxury development is anticipated to have a total saleable carpet area of sale of about 6.5 lakh sq ft and a constructed area of more than 18 lakh sq ft. The project is estimated to have a revenue potential of approximately more than Rs 3,000 crores,” Manan Shah, Managing Director, MICL, said during the conference call.
According to the company, the Tardeo project launched last month will have two residential towers comprising 325 units with a total sale area of 6.5 lakh sq ft. The project will have 3, 4, and 5 BHK apartments ranging from 1,300 sq ft to 3,330 sq ft. The project is expected to have over 80 floors for a height of over 1,000 feet.
Other two redevelopment projects in Mumbai
Man Infraconstruction Limited had announced one of Mumbai’s largest cluster redevelopment projects at Ghatkopar in June 2023. The upcoming development will have 11 towers with a total carpet area of around 4 lakh sq ft and a total constructed area of about 13.5 lakh sq feet.
The company has also acquired a redevelopment project in Goregaon West on a 10-acre land parcel with a saleable carpet area of more than 17 lakh sq ft and a total constructed area of 55 lakh sq ft from which MICL aims revenue of more than Rs 4,000 crore in the next five years.