Rs 10 bn to be invested by Avighna Group to develop towers in Mumbai
09 May 2023
2 Min Read
CW Team
Avighna Group, a real estate developer located in Mumbai, has announced plans to expand its
residential portfolio by building two ultra-luxury residential towers in Worli, Mumbai, with an initial
expenditure of Rs 10 billion. The combined saleable area of the two towers, a 17-storey tower and a
35-storey skyscraper will be close to 2,000 square feet. According to a statement from the
corporation, internal accruals will be used to pay for the projects instead of external borrowing or
institutional finance. Avighna House, a commercial project at Worli Naka, a 19-storey Grade-A office
skyscraper, was recently finished by the firm.
"The investment approach is aligned with Avighna's process of taking up select projects with defined
deadlines and quality parameters," said Nishant Agarwal, Managing Director, Avighna Group. The
architectural and design aspects for both projects are complete, and suppliers from all over the
world will provide the materials for the two high-end projects.
Both residential and retail space will be found in the tower. Both projects will have luxurious
residences with 3, 4, and 5 bedrooms. Both of the new projects will include top-notch amenities and
luxurious features in addition to industry-leading sustainability measures, such as energy-efficient
building and maintenance, resource conservation, and low carbon footprint development. While
Worli has always demanded a premium price due to its enviable location and easy access to the best
infrastructure and amenities, according to Agarwal, the impending coastal road and the Metro
services would further solidify Worli's image as a desirable address.
Our two next projects will reset the standards of high-quality development in the region, he said,
citing Worli's metamorphosis into a thriving commercial and residential neighbourhood as an
excellent example of sustainable urban redevelopment. The group is a pioneer in creating historic
projects in Mumbai for the past 21 years and has a wide portfolio of luxury residential, commercial,
retail, and mixed-use complexes.
Avighna Group, a real estate developer located in Mumbai, has announced plans to expand its
residential portfolio by building two ultra-luxury residential towers in Worli, Mumbai, with an initial
expenditure of Rs 10 billion. The combined saleable area of the two towers, a 17-storey tower and a
35-storey skyscraper will be close to 2,000 square feet. According to a statement from the
corporation, internal accruals will be used to pay for the projects instead of external borrowing or
institutional finance. Avighna House, a commercial project at Worli Naka, a 19-storey Grade-A office
skyscraper, was recently finished by the firm.
The investment approach is aligned with Avighna's process of taking up select projects with defined
deadlines and quality parameters, said Nishant Agarwal, Managing Director, Avighna Group. The
architectural and design aspects for both projects are complete, and suppliers from all over the
world will provide the materials for the two high-end projects.
Both residential and retail space will be found in the tower. Both projects will have luxurious
residences with 3, 4, and 5 bedrooms. Both of the new projects will include top-notch amenities and
luxurious features in addition to industry-leading sustainability measures, such as energy-efficient
building and maintenance, resource conservation, and low carbon footprint development. While
Worli has always demanded a premium price due to its enviable location and easy access to the best
infrastructure and amenities, according to Agarwal, the impending coastal road and the Metro
services would further solidify Worli's image as a desirable address.
Our two next projects will reset the standards of high-quality development in the region, he said,
citing Worli's metamorphosis into a thriving commercial and residential neighbourhood as an
excellent example of sustainable urban redevelopment. The group is a pioneer in creating historic
projects in Mumbai for the past 21 years and has a wide portfolio of luxury residential, commercial,
retail, and mixed-use complexes.
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