Hiranandani Group launches Eleva vertical for real estate solutions | Mumbai news - Hindustan Times
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Hiranandani Group launches Eleva vertical for real estate solutions

Nov 30, 2023 01:04 PM IST

The platform will leverage the 40 years of expertise of the group to provide development, construction, design, marketing, and sales-oriented solutions to other real estate players

Mumbai: The Niranjan Hiranandani Group on Wednesday announced the launch of Eleva, a pan-India service consultancy vertical to provide 360-degree solutions for other real estate players.

Hiranandani Group launches Eleva vertical for real estate solutions
Hiranandani Group launches Eleva vertical for real estate solutions

The platform will leverage the 40 years of expertise of the group to provide development, construction, design, marketing, and sales-oriented solutions to other real estate players.

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Based on service-fee revenue model, Eleva by Hiranandani Group will operate in the capacity of a consultant to the landowners or developers with clear land titles and statutory approvals in place. The company will provide strategic project development solutions through guidance, and recommendations. It will ensure the seamless execution of the project to be delivered within the stipulated timelines.

Additionally, the group will also evaluate the possibilities to associate with stalled or stressed projects bearing the potential feasibility to be operational through expertise extended by Hiranandani group under Eleva vertical.

The new offering from Hiranandani Group will enable the firm to expand its geographical footprint, strengthen the brand’s market presence, and also generate additional revenue streams.

Dr. Niranjan Hiranandani, Founder and Managing Director of Hiranandani Group said, “This is a unique service I am offering. Nobody else in the real estate offers the range of services. We are offering a la carte menu, and developers can choose what they want us to do and we will provide the service. We have already signed up a project which was showcased at the NAREDCO exhibition recently.”

The group has bagged its first project under Eleva, spanning across 3.33 lakh sq ft of development in Andheri West. Dudhwala developers is developing the project, Vista, comprising three 33 storey towers, housing a mix of 2 and 3 BHK homes. The premium homes will range from 765 sq. Ft to 1170 sq ft with ticket size in the range of 3 crore to 4.5 crore and will be delivered in December 2028. “They didn’t need our sercvices for liasoning, and approvals. So, we are doing the rest for them,” said Hiranandani, who was re-elected as National Real Estate Development Council (NAREDCO) chairman recently.

Hiranandani, known for developing large premium townships in Powai, Thane and Panvel, said poor execution of projects is an issue, and nearly 500 projects are stalled in Mumbai which is an opportunity for the quality and expertise that his brand represents. “We will be selective about who we want to partner with. The revenue from this business will cover the year’s overheads of the construction business. Our fee will be in the range of 12% to 20% of the project cost depending on the complexity of the project.”

Hiranandani Group, which still has 50 acres of undeveloped land in its 250 acre in its Powai township, last month launched Empress Hill project in of 330 premium homes, and clocked sales of 150 units, worth 1100 crore in the first week of the launch.

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