Man Infraconstruction Limited (MICL) has unveiled Avaan Tower 2, a stunning 306-metre residential skyscraper in Tardeo, Mumbai, which is now India’s tallest ultra-luxury residential building. The development features spacious 3, 4, and 5 BHK residences, with prices expected to drive revenue over Rs 30 billion for MICL. Designed by renowned architect Hafeez Contractor, Avaan Tower 2 offers breathtaking views and over 55 premium amenities.
- Avaan Tower 2 is now the tallest ultra-luxury residential building in India.
- The development spans 650,000 square feet and includes 3, 4, and 5 BHK residences.
Architectural Marvel: Avaan Tower 2’s Design and Features
Avaan Tower 2, designed by the esteemed architect Hafeez Contractor, stands as a testament to modern architecture and luxury living. The skyscraper’s impressive height of 306 metres makes it an iconic addition to Mumbai’s skyline, offering residents unparalleled views of the Arabian Sea, Queen’s Necklace, and Mahalaxmi Racecourse. The building’s design seamlessly integrates aesthetics and functionality, providing a luxurious lifestyle tailored for high-net-worth individuals. With a total project area of 650,000 square feet, Avaan Tower 2 comprises residences ranging from 1,300 to 3,282 square feet. These spacious homes are equipped with modern amenities, ensuring comfort and convenience for residents. The development boasts an array of over 55 premium amenities, which include an ocean-view infinity pool, a state-of-the-art UFC gym, a private theatre, and even a bowling alley. Such facilities are not only attractive but also reflect the growing demand for luxury living spaces in Mumbai.
Market Demand and Financial Outlook for MICL
The launch of Avaan Tower 2 aligns perfectly with the escalating demand for luxury real estate in Mumbai. High-net-worth and ultra-high-net-worth individuals, both domestic and international, are increasingly seeking premium living spaces in the bustling metropolis. This trend is driving significant interest in developments like Avaan Tower 2, which promises an opulent lifestyle and exclusivity. Financially, MICL is well-positioned to benefit from this surge in demand. The company reported a consolidated total income of Rs 13.6 billion and a net profit of Rs 3 billion for the financial year ending March 31, 2024. With expectations of revenues exceeding Rs 30 billion from Avaan Tower 2, MICL is poised to strengthen its foothold in the construction and real estate development sectors across India. This strategic move not only enhances MICL’s portfolio but also contributes to the overall growth of the luxury real estate market in Mumbai.
Future Impact on Mumbai’s Real Estate Landscape
The introduction of Avaan Tower 2 is likely to have a significant impact on Mumbai’s luxury real estate landscape. As it sets a new benchmark for ultra-luxury living, other developers may be motivated to elevate their projects to meet the rising expectations of affluent buyers. This could lead to a more competitive market, fostering innovation in design and amenities. Furthermore, the successful launch of Avaan Tower 2 may encourage additional investments in high-end real estate, attracting both local and international buyers. As demand continues to rise, it is anticipated that the luxury segment will experience sustained growth, ultimately transforming Mumbai into a global hub for opulent living.
