Man Infraconstruction Ltd has secured a Commencement Certificate for residential project in Mumbai

Man Infraconstruction Limited (MICL Group) recently announced the receipt of the Commencement Certificate (CC) for its residential project in Vile Parle, Mumbai. This development will now make the way for the project’s official launch, anticipated to follow soon after obtaining the necessary approvals from the Real Estate Regulatory Authority (RERA).

Project Overview & Potential

Nestled on Swami Vivekanand Road, this project will cover about three acres and feature ten residential towers, each with 15 stories. With a total carpet area of around 3.5 lakh square feet, they are planning for luxurious rooms. The project offers a mix of 2 BHK, 3 BHK, and 4 BHK apartments, catering to diverse tastes and preferences. The sales potential? A whopping Rs.1,200 crore! Plus, the company anticipates a profit before tax exceeding Rs.200 crore from this.

Manan Shah, the Managing Director of MICL Group, couldn’t contain his excitement: “We’re thrilled to have secured the Commencement Certificate for our highly anticipated Vile Parle project. With meticulously planned space on three acres, we’re set to redefine luxury living.” The project’s location will ensure connectivity to schools, colleges, hospitals, and more.

A New Era in Real Estate

What makes this project even more special? It’s the first cluster development in Vile Parle West! Thanks to Maharashtra’s cluster development policy, which allows developers to merge multiple plots into one project, MICL can take advantage of various incentives, including an additional floor space index (FSI).

Despite a slight slump in the Mumbai real estate market—property registrations dropped 14% year-on-year in September—the Vile Parle project signals demand for luxury housing in the city.

Conclusion: All in all, with a good sales forecast and maintaining quality, Man Infraconstruction seems to be gearing up to position itself well in Mumbai’s real estate market. As the launch date approaches, all eyes will be on this project, which promises to make an impact in the area. 

Disclaimer: This blog has been written exclusively for educational purposes. The securities mentioned are only examples and not recommendations. It is based on several secondary sources on the internet and is subject to changes. Please consult an expert before making related decisions.