Bloomberg TV India along with knowledge partner JLL, announced the top real estate developers for both residential and commercial projects across in major cities.
The list of ‘Top Ten real estate companies in Mumbai’ in the residential segment was headed by Hiranandani Developers. In a ‘double-win’, the ‘top ten’ in the office spaces segment for Mumbai was also lead by Hiranandani Developers.
Niranjan Hiranandani, MD, Hiranandani Developers said, “We are delighted to top both segments, residential and office spaces, in Mumbai. It enhances our commitment to the company’s philosophy of “creating tomorrow” for “today’s property users”. From the globalised thought process that goes into planning projects at Hiranandani Developers to sensitivity to local issues from the end-user’s perspective, it is an effort to ‘set benchmarks’ while ‘creating landmarks’ – the recognition in form of being listed at number one in Mumbai by Bloomberg TV India, with JLL as the knowledge partner, effectively places Hiranandani Developers as the top real estate developer in Mumbai, in residential as also office spaces.
The top real estate developers as declared by Bloomberg TV India, with JLL as the knowledge partner, are for both residential and commercial projects in major cities like Mumbai, Delhi NCR, Bangalore, Chennai, Pune, Hyderabad and Kolkata, and Hiranandani Developers is proud to lead in both categories for Mumbai.”
The comprehensive analysis was done based on various parameters like (i) Value of Projects which indicated the total units launched by the company; Launch Price (INR psf) and Average size of units in each project by the company, (ii) Sales Velocity; which shows how fast units in a project have been selling; (iii) Construction Delays, which shows the quantum of delays that has hit various projects and higher the delays, lower will be the scoring given to the company; (iv) Price Appreciation to annualize the pace at which price in a particular project is rising, faster the rise in prices of the property the scoring has been given to the company, etc.
The secondary factors for evaluating the companies are Price benchmarking, Rental benchmarking; the total space built by the company and vacancy levels for commercial projects by the company.