K Raheja Corp Homes, the residential business of the K Raheja Corp group, launches its latest luxury residential offering in South Mumbai, Raheja Modern Vivarea. The project is being developed through an agreement for sale of land by Modern India Ltd., for the purpose of development by K Raheja Corp Pvt. Ltd.
As part of the deal, Modern India Ltd. will get a consideration for sale of land as a percentage of the sales revenue. K Raheja Corp Homes will be responsible for the development and sales of the project. Nestled in Mumbai’s Mahalaxmi micro market, and adjacent to the already developed luxury offering Raheja Vivarea, this new offering synergizes and benefits from K Raheja Corp Homes’ in-depth understanding of the location with its already executed projects. It also fits seamlessly with the business strategy of deepening presence in this key micro market.
With an emphasis on creating an upscale luxurious residential enclave, the project is spread across 3 acres of land and will house only 2 luxurious towers, both West facing, with each home having views of the Golf Course, Racecourse and Arabian Sea. Spread across 10 lakh square feet of saleable area, the towers will have a selection of 3- and 4-bedroom apartments, which can be tailored to suit specifications, and offer bespoke living experiences ranging up to 8,500 sq.ft. carpet per family. Each apartment will have a massive in-room 12.5 ft floor to floor height adding to the expanse of the home. The project is positioned to congregate business leaders of corporate India.
Speaking on the launch, Ramesh Ranganathan-CEO, K Raheja Corp Homes said, “With innovation at the center, we have always curated offerings that deliver value to distinctive profiles of home buyers. South Mumbai has remained a hotbed of development and after the success of Raheja Vivarea and Raheja Artesia, Raheja Modern Vivarea shall further augment the value of this market. The project is designed for the affluent consumer who chooses the best and seeks branded properties that are purposefully created. We thank Modern India Ltd. for the faith and being a significant contributor to our growth story.”
Speaking on the launch, Mudit Jatia, Executive Director Modern India Limited “This collaboration is a validation of the trust, affiliation and relationship that we share with the group. Having delivered over 3mn sq.ft of ultra-luxury residential space in South Mumbai, across Raheja Vivarea and Raheja Artesia, K Raheja Corp Homes has an earned repute to curate high quality real estate, and we are confident this offering too will be a notable landmark.”
The residential offering includes a wide range of world-class amenities slated to encourage active, social and connected living. It has all modern-day indulgences Emphasizing its commitment towards sustainable development, Raheja Modern Vivarea meets all pre-requisites for an IGBC certified home, in line with the group’s larger commitment to imbibe sustainability across all its projects.
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