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Metro Group to invest Rs 225 cr in new housing project in Thane

2024-10-29

Realty firm Metro Group is set to invest Rs 225 crore to develop a new residential project in Thane, located in the Mumbai Metropolitan Region (MMR), in response to robust demand. The company has launched its premium project, 'The Presidential,' in the Pokhran Road area of Thane.

The project will encompass 100 flats on a one-acre land parcel, with the total investment aimed at developing this new venture, as stated by Metro Group.

Apartments are being priced at Rs 22,500 per square foot, with the overall price range for the units falling between Rs 2.25 crore and Rs 6 crore.

Metro Group plans to complete the project within the next three years. Chairman Mahesh Gala remarked, "Thane is transforming into India's first 15-minute city, where everything—work, home, leisure, education, shopping, and healthcare—is within a 15-minute radius."

He noted that the Kalyan-Shil corridor, featuring seamless 30-minute connectivity to major financial and industrial hubs, is poised to become the next Mumbai, catering to the aspirational demand for semi-affordable housing.

Over the past 30 years, Metro Group has successfully delivered more than one million square feet of real estate.