AI Thane: Saptashree Group's Rs 500 cr IT Park in Thane

New Delhi, Apr 14 (PTI) Realty firm Saptashree Group on Monday said it is targeting Rs 500 crore revenue from its AI-powered IT Park in Thane – AI Thane.

The project, which spans 1.5 acres of company-owned land valued at Rs 150 crore, is backed by a development cost of Rs 150 crore which is funded by the Saptashree Group, the company said in a statement.

With construction currently underway, the project will be delivered in a single phase with completion and handover scheduled for April 2027, it stated.

The group has announced the launch of AI Thane, India's first AI-powered IT Park, located in the fast-emerging business hub of Wagle Estate, Thane, the statement said.

The AI Thane is expected to generate more than Rs 500 crore in revenue, positioning it as one of the most high-potential commercial developments in the MMR (Mumbai Metropolitan Region), it stated.

"We're not just building another IT park, we're creating a living, breathing ecosystem that adapts to the needs of modern business," Sohan Thakur, Director at Saptashree Group, said.

With Rs 500 crore in projected revenue from this single development, AI Thane is not only a vision but a high-performing asset that redefines commercial real estate in India, Thakur added.

He further shared that the broader revenue projection for FY25-26 is expected to touch Rs 750 crore factoring in both commercial and residential verticals.

In the last financial year 2024-25 alone, the group successfully closed Rs 500 crore worth of sales across multiple developments. The total revenue potential in the next 2-3 years is expected to touch Rs 2,000 crore.

The project will feature a 20-storey tower housing over 300 offices, including 100-plus dedicated startup units with incubation and acceleration programmes.

Each floor is designed with pillarless layouts and 15 modular office units, allowing for flexible scaling. The building will boast Mumbai's first AI-powered human-less parking system, alongside intelligent features such as facial recognition access, smart energy optimisation, predictive maintenance, and climate control, all driven by machine learning.

As commercial office spaces become more experience-driven, AI Thane offers a suite of AI-driven operational efficiencies that aim to reduce costs, enhance security, and increase sustainability.

The IT park will also offer investor matchmaking platforms, business networking lounges, and a double-height automated lobby to create a comprehensive ecosystem for modern enterprises.

Located at the gateway of Wagle Estate, AI Thane capitalises on an area that has seen a 350 per cent appreciation in property value over the last 20 years, with rental yields currently between 9-10 per cent and projected to touch 12-13 per cent in the next five years.

With Wagle Estate's rapid infrastructure expansion and relative affordability compared to zones like BKC and Lower Parel, the project is ideally positioned to serve a growing demand for cost-efficient commercial real estate.

The group has already delivered 5 million sq ft of residential and commercial space across MMR, with another 15 lakh sq ft currently under development and a pipeline of 20 projects totalling 5 million sq ft by 2030, Thakur said.

The project has attracted interest from luxury brands and early anchor tenants, with bookings now open for a limited number of premium units in the first phase, the company added.