Surendra Hiranandani promoted House of Hiranandani is eyeing Delhi-NCR as its next destination to start residential project, besides looking at expanding its footprints to satellite cities such as Hyderabad and Pune.
The company, which has presence in Bangalore and Chennai, said it was looking to develop at least one million sq feet in the region. In Chennai and Bangalore, it is already in the process of developing about 15-20 million sq feet.
Neha Hiranandani, Director, House of Hiranandani, said that the company has been studying the market for the last three years. Delhi NCR as a region is a highly competitive market and the company would want to have a presence in Delhi NCR.
According to various estimates, NCR is the largest residential market in the country by sheer volume of residential units launched. Currently, it has more units than the combined tally of the other five metropolitan cities of Mumbai, Chennai, Bangalore, Kolkata and Hyderabad.
Developers such as DLF, Unitech, MGF EMAAR, Tata Realty, Ansal, Orris Infrastructure, Assotech Ltd, Raheja Developers, CHD already have a strong presence in the NCR market.