MICL launches Avaan Tower 2, pegs success on tallest tower in country

Manan Shah, MD at MICL, said that the project will offer 3, 4, and 5 BHK ultra-luxury residences, ranging from 1,300 to 3,282 sq ft carpet area, priced between Rs 24 crore and Rs 35 crore

Mumbai-based Man Infraconstruction Limited (MICL) unveiled Avaan Tower 2 on Wednesday, touting it as India’s tallest skyscraper at 306 metres (over 1,000 feet), located in Tardeo, South Mumbai. The second tower of the 6.5 lakh sq ft twin-tower project is expected to generate total revenue of Rs 3,000 crore, with deliveries expected from 2027 onwards.

 

Manan Shah, managing director at MICL, said that the project will offer 3, 4, and 5 BHK ultra-luxury residences, ranging from 1,300 to 3,282 sq ft carpet area, priced between Rs 24 crore and Rs 35 crore. The project is poised to generate revenue potential of over Rs 3,000 crore, with deliveries expected to begin by 2028.

 

“70% of the first tower which was launched in 2024 has been sold out. We’re launching the second tower today,” he said, noting that the towers will be the tallest in the country. With approval secured to rise up to 306 meters, Avaan Towers is expected to be completed by 2029.

 

For FY25, the company expects to generate revenue of Rs 1,700 crore, which is expected to rise to Rs 2,000 crore for FY26, on the back of ongoing projects in Goregaon and a cluster redevelopment project in Ghatkopar.

 

The company received a letter of intent from Shreepati Zaoba Housing LLP last year to build a sea-facing residential project near Marine Lines, with a total construction area of about 22 lakh sq ft and a RERA carpet area of around 5.3 lakh sq ft for sale. This project is expected to yield total sales value exceeding Rs 2,100 crore.