Arihant Superstructures Ventures into Plotted Development with Rs 700 Cr Investment in Navi Mumbai Township
Arihant Superstructures, a renowned real estate developer, has announced its entry into plotted development with an ambitious project “World Villas” in Chowk, Navi Mumbai. The company plans to invest Rs 700 crore in constructing a sprawling township, encompassing 76 acres of land, and aims to deliver 500 luxury villas and a 200-room resort. Mr. Ashok Chhajer, Chairman and Managing Director of Arihant Superstructures, unveiled these plans. In this venture, Arihant Superstructures will allocate approximately 55 acres of land for the construction of luxury villas, targeting buyers seeking their first homes. The remaining land will be utilized for the development of a gymkhana, club, and resort, creating a comprehensive ecosystem for residents. While the company has primarily focused on affordable and mid-segment housing in Navi Mumbai and Jodhpur, it now recognizes the potential in plotted development by integrating supporting infrastructure. Arihant Superstructures intends to gradually expand its portfolio in the plotted development segment.
“The total cost of land acquisition, approvals, and investment for this plotted development project amounts to Rs 700 crore, with an expected sales value of Rs 1,000 crore for the 500 villas,” stated Mr. Chhajer. Scheduled for a Diwali 2023 launch, the plotted development township will offer land pieces starting from a minimum of 2,000 to 3,000 square feet. Arihant Superstructures plans to construct a gymkhana, club, and hotel resort across 20 acres within the township. Additionally, the company will provide the option for buyers to have villas constructed on their behalf, with the construction costs borne by the buyers themselves. To ensure exclusivity, the company has decided to invite buyers for bookings by invitation only. This approach represents a shift towards a pull model for sales, where interested buyers are drawn to the company rather than actively pursued by the company.
Situated in a vibrant neighborhood, the project is strategically located opposite the renowned ND’s Film Studio and in proximity to the Reliance Township, which includes the prestigious Dhirubhai Ambani Hospital and Hiranandani Fortune City in Panvel. The site also offers scenic views of the Bhilavle Dam and Prabalgad’s lush greens, while nearby Karjat boasts celebrity farmhouses, picturesque waterfalls, ancient forts, and majestic mountain ranges. The township benefits from excellent infrastructure and facilities. The operational Chouk railway station, which will become an integral part of the Panvel-Karjat Railway Route, is conveniently located nearby, with a proposed Bhilavle railway station opposite the site. Additionally, the area hosts the esteemed ‘9 Aces’ 9-hole golf course academy, positioning the township as a leisure destination. Residents will also have access to a wide range of dining options, including renowned establishments like the SALTI Restaurant & Bar, as well as star hotels, fast-food joints, roadside shacks, pet care shops, and more.
With its hill-station climate, breathtaking views, easy accessibility via well-connected roads, and shorter travel times (45 minutes from Vashi and 75 minutes from South Mumbai via MTHL), the township promises to become a sought-after luxury villa destination for second-home buyers. Arihant Superstructures is excited to embark on this new venture, catering to the growing demand for high-quality plotted developments and creating an exceptional living experience for discerning buyers.