PNN
Mumbai (Maharashtra) [India], October 13: No suburb is more evocative of Mumbai's growth story as Chembur, a rising star in the real estate landscape that's propelled partly by necessity and partly by aspiration. And no project better encapsulates Chembur's growing significance in Mumbai's ecosystem than 71 Midtown, a project that's described as the pinnacle of urban living. And now, Paradigm Realty has upped the stakes by announcing the launch of Tower 4 of the project. The developer describes this move as a strategic, pre-planned step in the project's phased development masterplan.
71 Midtown perfectly encapsulates the needs and aspirations of the modern-day Mumbaikar. The luxurious, RERA-registered residential project comprises exquisite 1, 2, and 3 BHK homes, nestled in a 4.5-acre site. Accessorised with numerous lifestyle amenities, which include a podium and rooftop facilities, sports courts, a swimming pool and gymnasium, all of which have been designed with Vastu principles, 71 Midtown represents the ideal blend of convenience and aspiration. As testament to the former, the project offers easy access to prime business hubs, schools and shopping centres, in addition to high-street retail outlets located within the project. The staggered launch has been met with an overwhelmingly positive response which, the developer says, has exceeded their initial projections. Having sold over 85 per cent of the inventory in the first three towers, Paradigm Realty is certain of strong homebuyer confidence as well as enthusiastic buy-in for the ambitious vision of 71 Midtown. Importantly, it serves as a cornerstone affirming Chembur's emergence as a premier residential destination.
"Our decision to launch Tower 4 is directly driven by the sustained and robust demand we have witnessed following the success of the earlier phases. Favourable market dynamics and positive consumer sentiment in the real estate sector make this the opportune moment," said Parthh K Mehta, CMD and Chief Mentoring Officer of Paradigm Realty. He adds that Tower 4 represents the next evolution in design and lifestyle offerings, with its upgraded interior specifications, more refined finishes and bevy of premium-grade amenities. These include an exclusive rooftop sky lounge, padel court for residents and upgraded smart-home automation features for select residences.
Paradigm Realty is positioning Tower 4 as an aspirational-luxury product that presents a strategic and accessible value proposition to the discerning homebuyer. On offer is a mix of 1 BHK (429 sq. ft), 2 BHK (589 and 591 sq. ft) and jodi configurations. The launch pricing of Tower 4 has been calibrated to be competitive in the current day, with potential for future value appreciation. The developer anticipates that the tower will contribute INR 250 cr to the projected topline revenue of INR 1,000 cr that is anticipated from 71 Midtown.
The mounting interest in Midtown 71 is in accordance with Chembur's immense and exponential growth potential, the developer maintains. While the suburb's unparalleled connectivity is one of the primary drivers of demand - the ease of commute to key business districts such as BKC, South Mumbai and Powai is a critical decision-making factor for homebuyers - ongoing and planned infrastructure upgrades will solidify its position as the new strategic nerve-centre of Mumbai. Paradigm Realty foresees Chembur evolving into a prime residential and commercial hub with sustained value appreciation.
Thus far, Midtown 71 has received overwhelming demand from across the Mumbai Metropolitan Region (MMR), including from traditional South Mumbai localities such as Dadar, Prabhadevi, and Matunga. The developer points to a noticeable trend of the influx of buyers from the central and western suburbs, who are shifting to Chembur for improved connectivity to their workplaces. The project is currently being marketed to working professionals and businessmen, especially those employed in BKC, Lower Parel and Navi Mumbai, as well as to nuclear and growing families seeking a secure, modern and convenient lifestyle. Investors and NRIs seeking a high-growth real estate asset in a prime Mumbai location have also voiced their interest in the project. To heighten interest and convert purchase decisions, Paradigm Realty has curated special launch schemes and attractive, flexible payment plans that empower first-time homebuyers. Tie-ups with leading financial institutions will facilitate preferential home loan rates, ensuring that payment plans are inclusive and beneficial for all segments, including women homebuyers and young professionals.
A multi-channel, 360-degree marketing campaign will be announced to mark the launch - this will include an aggressive digital marketing push, print and outdoor campaigns, and PR activities. Paradigm Realty is also planning an exclusive launch event for channel partners and will be announcing attractive early-bird benefits for the first set of customers. All of these efforts underscore the developer's vision for 71 Midtown as being a catalyst in the transformation of Chembur into a 'downtown' district for the modern Mumbaikar.
About Paradigm Realty - Paradigm Realty is a prominent player in the Mumbai Metropolitan Region's suburban real estate market. The company has etched a great track-record over the last 10 years of its operation and has established a reputation for timely delivery, superlative space planning and fine craftsmanship with its cutting-edge projects at competitive affordability. These projects showcase design efficiency, pragmatic functionality and elegance while safeguarding the environment, mainly prioritising Wishlist of its stakeholders i.e. need of home seekers and drives sustainability for every member. Under leadership of CMD Parthh K. Mehta's, Paradigm Realty has risen to ranks of being a reputable brand, catering to 3000+ happy families with a team stand of more than 275 members, demonstrating an impressive capability to execute approx.
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