Metro Group, a prominent player in the Mumbai Metropolitan real estate market, is set to make a substantial impact on the Thane property landscape with an ambitious plan to generate ₹1,000 crore in revenue. This strategic move involves the development of 1 million square feet of premium luxury and commercial real estate on the periphery of Mumbai, reflecting the growing appeal of Thane as an investment hub.
The group is poised to inject ₹250 crore into four high-end luxury projects in Thane, focusing on creating unique offerings for the discerning professional class who are increasingly favouring Thane over Mumbai. This initiative aligns with the company’s vision of contributing to the evolution of Thane into what is being termed India’s first “15-minute city.” The concept aims to make daily necessities like work, home, leisure, education, shopping, healthcare, and entertainment accessible within a quarter of an hour, thereby enhancing the quality of urban life.
The Managing Director of Metro Group, underscored the company’s commitment to sustainability and eco-friendly living. “We are responding to future trends by emphasising sustainability and community wellbeing through a service-oriented approach for our homebuyers,” he stated. The ₹250 crore allocation for these new projects will be sourced from a combination of equity, working capital, and customer advances. The development plan is strategically divided, with 70 per cent of the projects dedicated to ultra-luxurious 3 and 4 BHK homes, priced between ₹2 crore and ₹5 crore. The remaining 30 per cent will encompass commercial spaces, semi-luxury residences, and high-end retail outlets. Notably, Metro Group is also introducing a pioneering certification for construction that includes a five-year leakproof guarantee.
Having already committed approximately ₹500 crore to ongoing projects, the company anticipates a further investment of ₹1,000 crore over the next five years. Interestingly, the company has observed a notable increase in interest from female homebuyers in Thane, indicating a shifting demographic trend in the real estate market.
