As part of this strategic shift, MICL Group has divested from phase 3 of the project located near Dahisar in Mira road. This divestment represents a strategic move to focus more efficiently towards our upcoming luxury projects in Mumbai's prime locations like Pali Hill (Bandra), BKC, Vile Parle, and Marine Lines.
Man Vastucon LLP a subsidiary of Man Infraconstruction Limited, has successfully delivered the first phase Aaradhya Highpark', comprising 6.5 lakh square feet of carpet area which is almost sold out. The second phase, Aaradhya Parkwood,' spanning 5.3 lakh square feet of carpet area is currently under development and has also achieved remarkable sales. Man Vastucon has agreed to relinquish balance Development Rights pertaining to Phase 3 of the above project.
Commenting on this decision, Manan Shah, Managing Director of MICL Group, said, This transaction is set to positively impact the cash flow, reduce costs, and enhance the overall profitability of the project. This divestment is also a strategic move to focus more efficiently towards our upcoming luxury projects in Mumbai's prime locations.
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