Man Infraconstruction Limited (MICL) has clinched a prime sea-facing residential project near Marine Lines in Mumbai. The company has received a letter of intent (LoI) from Shreepati Zaoba Housing LLP and will execute it under the asset-light development management (DM) model.
MICL will deliver the project within five years from its launch date. Covering a total construction area of approximately 22 Lakh-SqFt, the project offers a RERA carpet area of around 5.3 Lakh-SqFt for sale. It is anticipated to yield a total sales value exceeding INR 2,100 Crore.
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Manan P Shah, Managing Director of Man Infraconstruction, commented on the project, highlighting that it signifies MICL Group’s foray into high-end residential developments in South Mumbai for the second time. This follows the successful launch of their premier project, ‘Aaradhya Avaan,’ at Tardeo. Notably, ‘Aaradhya Avaan’ is set to become one of India’s tallest towers, exceeding 1,000 feet.
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