MICL Group Secures IOA for ₹1000+ Cr Ultra-Luxury Project in Bandra
Man Infraconstruction Limited (MICL Group) has secured the Intimation of Approval (IOA) for its ultra-luxury sea-view residential development, 'Berkeley House' (The One & Only), located off Bandstand, Bandra West, Mumbai. This development, part of their MS Collection Residences, is expected to have a Gross Development Value (GDV) of over ₹1,000 crore. The IOA allows MICL Group to proceed with site preparation and secure further approvals, with a project launch anticipated in FY27. This project, in which MICL Group holds a 70% stake, adds to their Bandra portfolio which now represents a combined GDV of ₹2,350+ crores, including Artek Park and a project at Pali Hill. The company sees continued strong demand and premium pricing in the Bandra micro-market.
Key Highlights
- Secured IOA for ultra-luxury 'Berkeley House' development in Bandra West.
- Project has an estimated Gross Development Value (GDV) of ₹1,000+ crore.
- Expected project launch in FY27, adding to Bandra portfolio GDV of ₹2,350+ crore.
- MICL Group holds a 70% stake in the 'Berkeley House' project.
- Development is part of the 'MS Collection Residences' vertical.
Price Impact
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