By Introduction
Squarefeet Group, a prominent real estate company based in Mumbai, has announced plans to invest Rs. 300 crore in a luxury residential project in Thane, a district within the Mumbai Metropolitan Region (MMR). The project, named ‘Yuva Rajya’, is poised to redefine luxury living with its innovative design and amenities. In this article, we delve into the details of this ambitious project, Squarefeet Group’s investment strategy, and the evolving housing market in the MMR region.
Overview of Squarefeet Group’s Investment
Squarefeet Group has earmarked approximately Rs. 300 crore for the development of the ‘Squarefeet Yuva Rajya‘ project. With a focus on providing upscale living spaces, the company aims to cater to the growing demand for premium residential properties in Thane. This investment reflects Squarefeet Group’s commitment to delivering excellence and innovation in every project they undertake.
Details of ‘Squarefeet Yuva Rajya’ Project
The ‘Yuva Rajya’ project spans across 3 acres of prime land in Thane and will feature around 1,000 luxury flats. Designed to offer a harmonious blend of modernity and comfort, the project promises an unparalleled lifestyle experience for its residents. From meticulously crafted interiors to state-of-the-art amenities, every aspect of ‘Yuva Rajya’ is curated to exceed the expectations of discerning homebuyers.
Target Audience and Sales Strategy
Squarefeet Group has identified millennials as the primary target audience for the ‘Yuva Rajya’ project. Understanding the evolving preferences and lifestyle choices of this demographic, the company aims to create living spaces that resonate with their aspirations. With a comprehensive marketing strategy and a focus on digital platforms, Squarefeet Group aims to reach out to potential buyers and create a buzz around the project.
Past Achievements of Squarefeet Group
Headquartered in Mumbai, Squarefeet Group boasts a rich legacy of delivering quality residential projects across Thane. With over 5,000 apartments successfully constructed and delivered, the company has earned a reputation for reliability and excellence in the real estate sector. Leveraging their experience and expertise, Squarefeet Group is poised to set new benchmarks with the ‘Yuva Rajya’ project.
Housing Demand Trends in MMR
The Mumbai Metropolitan Region (MMR) has witnessed a surge in housing demand, driven by various factors including urbanization, infrastructural development, and demographic shifts. According to data provided by PropTiger, housing sales in the MMR region witnessed a substantial increase of 29 percent last year. This upward trend underscores the resilience of the real estate market in the face of challenges posed by the COVID-19 pandemic.
Impact of COVID-19 on Housing Market
The COVID-19 pandemic has reshaped the dynamics of the housing market, with individuals and families prioritizing spacious and well-equipped homes. With remote work becoming the new norm, there is a growing demand for residences that offer ample space for work-from-home setups and recreational activities. This paradigm shift has propelled the demand for premium residential properties in locations like Thane, where Squarefeet Group operates.
Also Read: Concorde acquires 4.5 acres land for residential project in Thanisandra, Bengaluru
FAQs
Q.1 What is the total investment Squarefeet Group plans for the ‘Yuva Rajya’ project?
Ans. Squarefeet Group plans to invest approximately Rs. 300 crore in the ‘Yuva Rajya’ project.
Q2. How many flats will be constructed in the ‘Yuva Rajya’ project?
Ans. The ‘Yuva Rajya’ project will feature around 1,000 luxury flats spread across 3 acres of land in Thane.
Q3. What is the revenue target set by Squarefeet Group for the ‘Yuva Rajya’ project?
Ans. Squarefeet Group aims to generate a revenue of Rs. 750 crore from the ‘Yuva Rajya’ project within the next 4-5 years.
Q4. How many apartments has Squarefeet Group sold on the inaugural day of the project?
Ans. Squarefeet Group has successfully sold 100 units on the inaugural day of the project.
Q5. How has the demand for housing in the MMR region changed post-COVID-19?
Ans. The demand for housing in the MMR region has witnessed a significant increase post-COVID-19, driven by factors such as remote work and the preference for spacious homes.
