India, Sept. 29 -- Mumbai-based developer Hiranandani Communities has launched the first phase of its 225-acre integrated township project, Hiranandani Sands, in Alibaug. The company is investing Rs.5,000 crore in the project, which has an estimated gross development value (GDV) of Rs.17,000 crore.

In the first phase, the developer launched 3.3 lakh sq ft across three residential towers, comprising 330 apartments. All units were sold out within three days of launch, generating Rs.450 crore in revenue.

The apartments, ranging from studio, 1, 2, and 3 BHK units, were priced between Rs.80 lakh and Rs.2.85 crore. The strong response highlights Alibaug's rise as a prime coastal real estate destination, the company said.

The sellout generate...