Paradigm Realty likely to admit the order to renovate 11 Housing societies in Mumbai

One of the top builders in Mumbai, Paradigm Realty has entered its footprints into the operations of redeveloping 11 housing societies in Mumbai.

The dedicated project has a total consolidated revenue potential of approximately Rs.4500 crore.

These projects are situated in Pali Hill and Carter Road in Bandra, Mahavir Nagr in Kandivali and valued to have a developmental potential of more than 2.8 million sq.ft.

The projects are spanning across half an acre each with a developmental potential of 1, 5 lakh sq.ft and 1.6 lakh sq.ft correspondingly with a projected revenue of Rs.500 crore.

Paradigm Realty will renovate these luxury gated projects on all the three layouts and funding for these projects would be through internal buildups, construction finance, equity & pre-sales.

Currently, the company is in the process of looking sanctions for the development plans that are projected to finish in the next few months. The inauguration is anticipated in the fourth quarter of this fiscal year. The realtor has paid stamp duty for the registering the agreement of redevelopment with nine housing communities in Mahavir Nagar. And this is the fifth consecutive project being undertaken by the builder in Mumbai’s Outskirts.

Already, Paradigm Realty has delivered more than 1,200 apartments across three completely finished projects in Kandivali and Borivali. Also it has an undergoing luxury project with 250 housing units in the locality that will oversee 600 apartments.