Hiranandani Communities has entered the Goa real estate market through project management partnerships worth a combined ₹450 crore, with two residential developments expected to add around 0.25 million square feet across a five-acre land parcel.
The Mumbai-based developer will provide project management consultancy and execution services for Aria Residency by Azul Amor LLP and Cloud Infinity Premium Villas by Shree Yagna Builders and Developers. Both projects are residential developments comprising premium apartments and villas in locations the company described as high-growth corridors in Goa.
The projects are registered under the Real Estate (Regulation and Development) Act, and The Guardians Real Estate Advisory has been appointed as the strategic partner for sales and marketing. The company did not provide project-wise investment details or completion timelines in the statement reported by Business Standard.
The partnerships have been structured under Eleva by Hiranandani, a model through which Hiranandani Communities works with local developers and provides project management and execution expertise without undertaking the entire development cycle itself. The Goa entry is part of the company’s stated plan to build Eleva as a scalable platform for expansion into real estate markets across India.
“Goa is evolving into a year-round residential and coastal lifestyle destination, driven by improved connectivity, hybrid living, increasing demand for homes from established branded developers, and customers’ growing propensity towards experiential living,” Niranjan Hiranandani, chairman and managing director of Hiranandani Communities, said in a statement.
The company attributed growth in Goa’s residential market to improved connectivity, including the operationalisation of Manohar International Airport at Mopa and the ongoing upgrade of the Mumbai-Goa National Highway. It also identified high-net-worth individuals, non-resident Indians and second-home buyers as segments contributing to demand for residential property in the state.
The announcement comes after Hiranandani Communities launched a 225-acre integrated coastal township in Alibaug, a coastal town in Maharashtra’s Raigad district, in September last year. That project was announced with an investment of around ₹5,000 crore and a revenue potential of ₹17,000 crore.
For the Goa developments, the local developer-partners will remain responsible for the projects, while Hiranandani Communities will provide project management consultancy and execution support. The two projects together are expected to deliver approximately 250,000 square feet of residential development on the five-acre site. Further project milestones and completion schedules were not specified in the announcement.
