Hiranandani launches service consultancy vertical Eleva

Notable players in the domain include Anarock, Xanadu, and Media Guardians.

Dr. Hiranandani, the founder and managing director, envisions expanding the group’s real estate footprint by extending their expertise and brand equity to support other developers. The group already has several successful township projects including in Powai, Mumbai.

Operating on a service-fee revenue model, Eleva will act as a consultant, offering guidance and recommendations to developers with clear land titles and necessary approvals. The focus remains on facilitating seamless project execution within specified timelines.

Moreover, the group aims to evaluate and potentially revive stalled or distressed projects using their expertise under the Eleva vertical.

This strategic move is set to broaden Hiranandani Group’s geographical reach, fortify its market presence, and create additional revenue streams.

The innovative service model aims to elevate the housing landscape nationwide, emphasizing the integration of space and services in the evolving real estate industry.

“The real estate industry is witnessing a rising trend of space and service integration. Through this newly introduced business model, we aim to forge new collaborations in this era of competition, and leverage on our expertise that will enhance the customer value proposition. With innovation at the core, this new business model will support the partner developers with strategic and operational advisories to build better homes and provide quality living to their customers,” Dr Hiranandani said.

The maiden project under Eleva spans 3.33 lakh sqft in Andheri West, featuring three towers with 33 storeys each, accommodating spacious 2 & 3 BHK homes.

The premium 2 BHK houses range from 765 to 960 sqft, while the 3 BHK units cover 1,170 sqft. Priced between Rs 3 crore to Rs 3.7 crore for 2 BHK and Rs 4 crore to Rs 4.5 crore for 3 BHK, the project has obtained RERA approvals and is scheduled for completion by December 2028.

The launch of Eleva signifies Hiranandani Group’s intent to leverage this momentum, acting as a nurturing ground for emerging developers with a vision to elevate housing standards in India, the company’s spokesperson said.