MICL Group Acquires Prime Redevelopment Project at Bandra Kurla Complex (BKC)

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MICL Group Acquires Prestigious Redevelopment Project at Bandra Kurla Complex

Team FS

10/Jun/2024

Key Points:

MICL Group secures a prime redevelopment project at Bandra Kurla Complex (BKC).
The project involves the redevelopment of Artek Co-operative Housing Society Limited.
MICL aims to deliver the project within three years, enhancing its portfolio in premium Mumbai locations.

MICL Group, one of the leading real estate developers in Mumbai, is proud to announce its latest acquisition: a prime redevelopment project at the prestigious Bandra Kurla Complex (BKC). This strategic move marks MICL's foray into premium redevelopment projects in highly sought-after locations within the city.

The project entails the redevelopment of Artek Co-operative Housing Society Limited, located in the Kalanagar area of BKC. Bandra Kurla Complex is renowned for hosting a multitude of multinational corporations, financial institutions, and government offices. This prime location attracts numerous professionals, entrepreneurs, and investors seeking luxurious residential spaces near their workplaces. Over the years, BKC has evolved into a vibrant residential area, blending high-end living with business conveniences.

The strategic location of this project is set to make it a landmark development in Mumbai’s foremost commercial district. It encompasses a total construction area of approximately 5.0 lakh square feet and offers a RERA carpet area of around 1.5 lakh square feet for sale. MICL Group has a proven track record of delivering all its 16 projects ahead of schedule and aims to complete this redevelopment within three years from its launch date.

Man Infraconstruction Limited, holding a 34% stake in the project, will undertake the construction through its associate entity, Arhan Homes LLP. The actual construction work will be executed by Man Infraconstruction Limited, ensuring that the project benefits from their extensive experience and expertise.

Commenting on this significant development, Mr. Manan P. Shah, Managing Director of MICL Group, stated, "We are thrilled to announce the acquisition of this prestigious redevelopment project at BKC, where we have executed the Development Agreement with the Society. This project aligns perfectly with our vision of strengthening MICL Group's presence in the Mumbai region by creating iconic developments that offer a superior living experience. We look forward to delivering yet another benchmark project that reflects our commitment to excellence."

MICL Group’s venture into BKC underscores its commitment to exploring premium real estate opportunities and delivering exceptional living experiences. As demand for high-end homes in Mumbai continues to grow, this project at BKC stands out for its perfect blend of residential comfort and business convenience, promising a unique and luxurious lifestyle for its future residents.

This redevelopment project will further cement MICL Group’s reputation in the real estate sector, showcasing its capability to secure and manage substantial projects in key locations. By combining strategic location, superior construction quality, and timely delivery, MICL aims to set a new standard in Mumbai’s real estate market.

The company's consistent performance and strategic expansions highlight its dedication to excellence and innovation in real estate development. As MICL continues to grow its portfolio, it remains focused on delivering projects that not only meet but exceed the expectations of its discerning clientele. This latest project at BKC is poised to become a landmark development, reinforcing MICL Group's position as a leader in Mumbai’s real estate landscape.

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MICL Group Acquires Prestigious Redevelopment Project at Bandra Kurla Complex

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