Meghnz Infracon Infrastructure Limited (MIIL Group) has unveiled a new chapter in its real estate journey with the launch and Bhoomi Poojan of "Shree Pranam", a premium residential project located in Model Town, Lokhandwala, Andheri (West), Mumbai. This strategic development not only expands the company's portfolio in Mumbai's prime localities but also reinforces its entry into the luxury housing segment.

A Milestone Project at a Prime Mumbai Location

MIIL Group’s announcement on 31st May 2025 marks a major milestone in its real estate growth. "Shree Pranam" is located in the upscale area of Lokhandwala in Andheri West, known for its urban lifestyle, excellent infrastructure, and high connectivity. The project is ideally positioned near top schools, colleges, hospitals, entertainment hubs, railway stations, and the airport, making it highly attractive to both end users and investors.

This premium residential project aligns with the company’s long-term goal of becoming a top player in Mumbai's luxury residential space.

Revised Revenue Estimates Post Government Policy Update

In an earlier press release dated 23rd August 2024, MIIL Group had announced the signing of a Development Agreement for the Shree Pranam redevelopment project. At that point, the estimated sale potential was around ₹400 million.

However, recent changes in government policies have significantly improved the commercial potential of the project. The revised revenue estimate now stands at ₹600 million, representing a 50% increase from initial projections. This jump underscores the company’s ability to leverage policy shifts and improve the viability and profitability of its projects.

Modern Residential Living with Community-Focused Design

Shree Pranam is not just another residential building — it is designed as a community-focused modern housing solution. The project will offer 1 BHK and 2 BHK configurations, catering to the growing demand for compact and luxurious living spaces in Mumbai.

According to Mr. Vikram Jayantilal Lodha, Managing Director of MIIL Group:

“The launch of Shree Pranam marks a significant milestone in our journey towards becoming the preferred luxurious real estate developers in Mumbai. The construction work has begun and will follow scheduled timelines. With this project, we introduce an innovative community living concept located at one of Mumbai’s most prime areas.”

Strategic Shift to Luxury Real Estate

With Shree Pranam, MIIL Group is making a strategic entry into the high-demand luxury real estate market in Mumbai. By choosing a prime location like Andheri West, the company is positioning itself to attract discerning buyers who seek high-end amenities, superior design, and long-term investment value.

The luxury segment in Mumbai has witnessed renewed interest, especially in areas like Lokhandwala which offer a blend of lifestyle, connectivity, and investment returns. MIIL Group’s entry into this space indicates a calculated expansion strategy backed by strong market research.

Construction Status and Timelines

MIIL Group has confirmed that construction at the project site has already commenced and will be executed in line with scheduled timelines. This reinforces the company’s commitment to timely project delivery, which is a critical factor for buyer trust and investor confidence in the real estate industry.

Location Advantage: Lokhandwala, Andheri West

The project’s location in Model Town, Lokhandwala offers seamless access to Mumbai’s Western Express Highway, Versova Metro Station, and Juhu Circle. It’s an area known for its mix of upmarket residential spaces and commercial conveniences.

Buyers will benefit from:

• Proximity to top-tier educational institutions and hospitals

• Access to fine dining, retail, and multiplexes

• Well-connected public transport network

• Upcoming infrastructure projects adding future value

Community Living Concept

A standout feature of the Shree Pranam project is its community living model, which focuses on shared spaces, landscaped gardens, children’s play areas, and dedicated zones for fitness and recreation. MIIL Group aims to create a sense of belonging and social well-being for all residents, which is especially relevant in today’s post-pandemic lifestyle preferences.

Industry Response and Market Potential

The Mumbai real estate sector has shown strong resilience and growth in the past year. With new projects being launched in prime areas like Andheri, the market sentiment remains bullish. Analysts view MIIL’s launch as timely and well-positioned to capture a slice of the premium housing segment.

Key competitive advantages for MIIL Group include:

• Strategic location selection

• Clear development roadmap

• Experienced leadership

• Increased revenue potential

• Focus on luxury and lifestyle amenities

Company Outlook

MIIL Group is clearly focused on expanding its footprint across Mumbai’s emerging and established neighborhoods. The company’s approach of integrating community-centric design with prime urban locations is likely to resonate with both homebuyers and investors.

As the construction of Shree Pranam progresses, MIIL Group is expected to announce more updates, including possession timelines, flat configurations, launch offers, and financing partnerships.

Conclusion

The launch of “Shree Pranam” by MIIL Group is a bold and promising step in Mumbai's highly competitive real estate landscape. With a strong location, enhanced revenue projections, and a thoughtful living concept, the project stands as a testament to MIIL’s evolving role in shaping Mumbai’s urban future.

As the company continues to expand and innovate, buyers and investors can look forward to more high-quality developments that blend lifestyle, location, and long-term value.

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