Metro Group is making a major investment of over Rs 3,500 crore in the rapidly growing micro-markets of Thane and the Kalyan-Shil Corridor. In 2024, the company has earmarked Rs 1,000 crore for Thane, focusing on Uber Luxury Residential and High-End Commercial projects, including Rs 200 crore for a celebrity-inspired limited-edition tower. Over the next three years, Metro Group plans to launch 12 projects, both new and expansions of existing developments, covering a total of 6.6 mn sq ft. This is expected to generate revenue potential of Rs 9,860 crore.
In Thane, the company will prioritise Uber Luxury and Commercial developments, with plans for 3 mn sq ft of luxury residential space and 1 mn sq ft of commercial projects, projecting revenue between Rs 5,000-6,000 crore. Meanwhile, in the Kalyan-Shil Corridor, Metro Group is set to focus on affordable luxury housing, with 2.6 mn sq ft of residential space targeting a revenue potential of Rs 3,000-4,000 crore.
Mahesh Gala, Director, Metro Group, shared the company’s forward-looking vision for these micro-markets. “We envision Thane evolving into India’s First 15-Minute City, where all aspects of life—work, home, play, education, shopping, and health—are within a 15-minute reach. Similarly, the Kalyan-Shil Corridor is poised to become the Next Mumbai, with 30-minute connectivity to major financial and industrial centers, creating a vibrant market for aspirational semi-affordable housing. As a responsible real estate developer, we see huge potential in the range of the products that we are already offering.”
Gala also emphasized the group’s commitment to sustainability and community well-being. “We are dedicated to crafting luxury spaces that embody sophistication while integrating eco-friendly practices. Our upcoming projects will feature certified construction tags with a five-year leak-proof guarantee, and in some of our projects, we will be offering live construction access for home buyers. In one of our Thane projects, we plan to introduce India’s first carbon-neutral interiors using zero chemical and toxic materials,” he added.
The Rs 3,500 crore investment will be funded through a mix of equity, working capital, and customer advances. The company aims to complete these developments by 2027, with 70 per cent of the projects focused on Uber 3 & 4 BHK luxury homes in Thane, priced between Rs 2 crore to Rs 5 crore. The remaining 30 per cent will be dedicated to commercial, semi-luxury, and high-end retail spaces.
With ongoing investments in greenfield developments, society redevelopment, and potential SRA projects, Metro Group is reshaping the MMR real estate landscape. The group’s presence also extends to other emerging markets such as Kalyan, Dombivli, Navi Mumbai, Palghar, and Vasai, addressing a diverse range of housing needs.