A sell-out within 9 days of launch, the project has already generated INR 200 Cr+ in revenues
Mumbai, 23rd March 2021: Underlining how adopting cutting-edge marketing can drive exponential growth for Indian real estate, Raunak Codename Centre of Mumbai has emerged as the most successful real estate launch in FY21. The project, located in Mumbai’s Sion area, achieved a complete sell-out of its inventory within 9 days of its launch. The project with an average price of Rs. 1.35 Cr achieved INR 200+ Crore in revenues. The success was driven by the innovative 360-degree marketing strategies employed by Xanadu Realty, India’s foremost institutional growth expert to the realty sector. This result has helped cement Raunak Group emerge as the fastest growing brand of Mumbai real estate.
A key driver of Raunak Codename Centre of Mumbai’s record-breaking success was Xanadu’s effort to design a project and a path breaking marketing campaign based on an in-depth understanding of the target customer base and the ability to create a super-normal affinity on 3 key aspects – location, development and lifestyle. The winning thought right from the beginning was to address the location not in the context of the immediate vicinity, but a destination for the whole of Mumbai. Basis this the concept of The Centre of Mumbai was born, which produced an instant connect with all of Mumbai home buyers. The development was re-imagined to be the most differentiated offering not only in the micro-market, but for the entire Mumbai. It was clearly envisioned to not be a typical residential development. The city’s first Central Lifestyle District was conceptualized on the foundation of 60+ experiences including the walk-to-work reality, retail, fine-dine, family focused amenities, smart homes with the additional benefit of fully-furnished homes. Further, Xanadu also played a critical role in driving value engineering in the product development to be able to promote a crucial pricing strategy which made the dream of every aspirational home buyer possible – Centre of Mumbai at Thane prices. The results have made this launch the most successful launch of FY21 with 2000+ customer footfalls at the sales gallery in just 9 days.
Speaking on the unprecedented success, Mr. Samujjwal Ghosh, Director, Xanadu, said, “Raunak Codename Centre of Mumbai is a testament to Xanadu’s marketing and strategic prowess. In a market that has consistently given a hard time to A-grade developers, our insightful, simple and yet very powerful message has struck a chord with the Mumbai home buyer. We see this as a benchmark of product value engineering basis deep customer and market understanding complemented by the ability to create a clutter-breaking marketing effort and drive sales excellence to achieve records. While the sell-out itself is a record, we achieved a new high with our 360-degree marketing campaign. Our visibility strategy was covered by the presence of Centre of Mumbai markings on billboards from 5th of Feb. This was complemented by our digital and BTL outreach which targeted everyone in the 15 km radius. Further, Xanadu executed a critical announcement using print media, which broke most records in the number of customer enquiries and walk-ins attributed to one print advertisement.
The Raunak Codename Centre of Mumbai project is located on the Eastern Express Highway in Sion, just off the Bandra-Kurla Complex connector that has drastically reduced travel times for residents in Mumbai. It offers homebuyers fully-furnished two bed-homes with an average price of INR 1.35 crore – a very reasonable cost in the country’s most expensive city. To top it off, the project has been developed as The Central Lifestyle District of the neighborhood, making it the hallmark of extraordinary lifestyles promised by up-and-coming branded realty projects in the country. The project, powered by Jio Fiber, also offers property owners a 5% rental return on investment – making it the highest return rate in Mumbai, where the average rental RoI stands at about 2%.