Radius Developers Signs Joint Venture Deal in Hughes Road, Mumbai with Rohan Lifespaces

Radius Developers Signs Joint Venture Deal in Hughes Road, Mumbai with Rohan Lifespaces

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8 year(s) ago

Mumbai’s Hughes Road Sees Revival of Stalled Luxury Project. An ultra-luxury residential project on Hughes Road in South Mumbai is finally set to take off after facing delays for eight years. Radius Developers Signs Joint Venture Deal at Hughes Road, South Mumbai with Rohan Lifespaces to develop ultra-luxury residential project in south mumbai.

Project Details:

  • Developer: Radius Developers (taking over from Rohan Lifespaces)
  • Location: Hughes Road, South Mumbai
  • Previous Partner: Trump Organization (collaboration ended in 2011)
  • Project Status: Revised plans with two towers (25 & 33 floors)
  • Estimated Development Potential: 130,000 sq ft
  • Approval Status: Initial approvals secured, construction to begin soon

Project Significance:

  • This marks the revival of a long-stalled project in a prime location.
  • It highlights a trend of consolidation in Mumbai’s real estate market.
  • Larger developers like Radius are acquiring or partnering with smaller players.

Market Trends:

  • The Indian real estate market is undergoing a consolidation phase.
  • Weaker developers are struggling due to slow sales and financial constraints.
  • This creates opportunities for larger developers to expand through acquisitions and partnerships.

Quotes:

  • Harresh Mehta, Chairman, Rohan Lifespaces: “The real estate industry… there will only be a few developers with roles divided amongst them.”

Additional Information:

  • This is the second project on Hughes Road taken over by Radius, following an earlier acquisition from Hubtown Ltd.
  • The real estate bill (passed in 2013) aims to bring more transparency and regulation to the sector.
  • This may lead to further consolidation as smaller players struggle to meet stricter requirements.

Overall, this news signifies a changing landscape in Mumbai’s real estate market. As consolidation takes hold, larger and more financially sound developers are expected to play a dominant role.

 

Disclaimer: The information herein is based upon information obtained in good faith from sources believed to be reliable. All such information and opinions can be subject to change. Furthermore, The image featured in this article is for representation purposes only. It does not in any way represent the project. If you wish to remove or edit the article or want to publish your news or article please email news@jvdeals.in

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