Parinee Group has tied up additional funds of Rs. 325 Crores from various Investors including a barter tie-up for the RCC contract of the entire building Parinee Eminence.

By Varun Singh

Parinee Eminence a commercial project by Parinee Group is coming up in Worli.

The project had earlier received funding from Edelweiss group to the tune of Rs 450 Crores.  

Now, Parinee Group has tied up additional funds of Rs 325 Crore from various Investors including a barter tie up for the RCC contract of the entire building.

The existing loans have also been restructured to ensure that all the funds are channelized for the construction of the project

Vipul Shah, Managing Director - Parinee Group
Vipul Shah, Managing Director – Parinee Group

The project was earlier approved under Old DCR Rules of 1991, which now has been revised as per New DCPR of 2034.

The total proposed development is approximately 0.6 million sq. ft. of carpet area and a topline in excess of Rs 2000 crore.

The configuration includes flexible boutique offices catering to all small, mid and large size needs with spaces ranging from 400 sq. ft. to 2200 sq. ft.

The base ticket size starts from as low as Rs 1.50 crore and comprises of approximately 750 units that are planned in the building.

The target group for the project is Mid Size Corporates, SME’s and MSMEs, Start-up Universe, Professionals, Family Offices, Restaurants, etc.

The project being located in Worli gives a view of either WorliSeaface or Mahalaxmi racecourse or the cityscape.

It is first of its kind commercial tower with A+ grade offices utilising 100% commercial FSI

With premium residential projects in and around Worli, the project will cater to the growing Walk to Work concept

The proposed date of completion of the project is March 31, 2026. The project is completed till Plinth Level.

Also Read: Lodha clocks over Rs 550 crore sale in July 2020

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