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Belicia, a luxury residential project in Thane developed by the Prescon Group and the House of Hiranandani, has reported revenue exceeding INR 200 crores for the first quarter of FY 2024-25, following the sale of over 80 units.

The project features a 48-storey tower located at the Nitin Company Compound near Nitin Company junction. It offers 2, 3, and 4 BHK apartments ranging from 779 to 1,546 sq ft, with prices starting at INR 1.85 crore. The project is expected to receive RERA possession in June 2028.

Thane has shown strong performance in the real estate market, with PropEquity reporting 26,702 units sold in Q1 2024. This places Thane among the leading cities for property sales in the quarter.

The recently approved Thane Integral Ring Metro Rail Project is anticipated to enhance connectivity in the region, with operations set to begin by 2029. This infrastructure development is expected to further boost real estate activity in Thane.

Panch Pakhadi, where Belicia is situated, has seen significant price appreciation, outperforming other areas in Thane due to limited housing supply and strong infrastructure. The project’s location near major transport links contributes to its attractiveness in the current market.

Also Read: MMRDA Appoints Contractors for Three Major Creek Bridges in Thane

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