Heritage Group

What Heritage Group does

Heritage Group is a privately held Mumbai-based residential real estate developer founded in 1994 by Pradeep Somashekar Shetty and Girish Janki Partabrai Gangwani. The company specializes in society redevelopment and new-construction apartment projects, claiming pioneer status in Mumbai's redevelopment segment from 1994 — roughly a decade before most competing developers entered the category around 2003. Its portfolio spans compact 1 BHK through premium 5.5 BHK configurations across Mumbai's eastern and central suburbs, primarily Chembur, Ghatkopar, Powai, Mulund, Matunga, Bhandup, Sion, and more recently Borivali East. Visible sub-brands include Heritage Solitaire, Heritage Elegance, Heritage Emerald, Heritage Signature, Heritage Lakeside, Heritage Vatika, Janki Heritage, Madhur Milan Heritage, Balmukund Heritage, Dwarka Heritage, Venkateswara Heritage, Geetanjali Heritage, Subha Heritage, Sandhya Heritage, Apsara Heritage, Arunoday Heritage, and Sanjog Heritage.

The company operates a vertically integrated in-house model covering liaisoning, design, and execution rather than outsourcing these functions. It is ISO 9001 certified since 2015 and holds project-level MahaRERA registrations across its portfolio. Amenities are standardized: Vastu-compliant planning, multipurpose rooms, rooftop terrace gardens, podium car parking, high-speed elevators, and in newer projects provisions for electric-vehicle charging and premium features such as lake-facing balconies. The core technology is conventional real-estate development rather than a software or AI platform.

Heritage Group's revenue model is one-time per-unit sales of residential apartments, with disclosed per-unit prices on sold inventory ranging from approximately ₹1.09 Cr (Arunoday Heritage 1 BHK) to ₹4.22 Cr (Apsara Heritage 3.5 BHK), and quote-based pricing on premium and under-construction projects. Go-to-market is sales-led through an in-house team based at the Chembur East corporate office, supported by a content-driven website and SEO-targeted blog covering neighborhood and configuration guides (1/2/3 BHK in Chembur, Powai, Ghatkopar, Mulund). Distribution relies on direct sales plus referrals from past society redevelopment customers rather than third-party broker networks. Eight financial institutions — Axis, HDFC/Hero Housing Finance, ICICI, Bank of Baroda, Bank of India, Canara Bank, PNB, and Saraswat — are listed as approved home-loan partners, lowering buyer financing friction. The customer base is split between end-user homebuyers (working professionals, couples, families) seeking homeownership in eastern Mumbai, investors targeting rental yields of 2.5–6%, and housing societies seeking redevelopment partners.

Name

Heritage Group

Legal name

Heritage Group

Website

https://heritagelifestyles.com

Company type

Private

Founded year

1994

Operating status

Operating

Headcount range

51–100 employees

Short description

Heritage Group is a privately held Mumbai-based residential real estate developer founded in 1994, pioneering society redevelopment and building 1 BHK to 5.5 BHK apartments across Chembur, Ghatkopar, Powai, Mulund, Matunga, Bhandup, and Borivali for end-user homebuyers, investors, and housing societies.

Ownership category

akta.pro rank

Product category

Residential Real Estate Development

NAICS

New Housing For-Sale Builders (236117), Residential Building Construction (2361)

SIC

General Bldg Contractors - Residential Bldgs (1520), Land Subdividers & Developers (No Cemeteries) (6552)

akta.pro primary industry

Residential Land Development & Subdivision Homebuilding (Build-to-Sell Communities) (IMAFABAL)

akta.pro secondary industry

Residential Design-Build & Renovation-Integrated Builders (IMAFABAE)

Keywords

• Residential real estate
• Society redevelopment
• Apartment construction
• Property development
• Real estate developer

Headquarters

HQ city

Mumbai

HQ country

India

HQ region

Asia

Offices1 record

Markets served

GTM type

B2C

Offering type

Services

Cost components

Supply Chain, Personnel, Operations, Marketing or Sales, Technology or R&D, Infrastructure

Revenue model

1. Residential Property Sales: Heritage Group generates revenue through the sale of residential apartments across various BHK configurations (1 BHK, 2 BHK, 3 BHK, 4 BHK, 5 BHK) in Mumbai's eastern suburbs including Chembur, Ghatkopar, Powai, Mulund, and Matunga. Revenue is earned on a per-unit basis upon sale or booking of apartments.

Pricing tiers

Go-to-market motion1 record

Distribution channels1 record

Marketing channels3 records

Core offering

Heritage Group develops and sells residential apartments in Mumbai's eastern and central suburbs, offering 1 BHK through 5.5 BHK configurations across locations including Chembur, Ghatkopar, Powai, Mulund, Matunga, Bhandup, and Borivali. The company also provides society redevelopment services, transforming older housing society buildings into modern residential towers for apartment owners and new buyers. The company has developed over 2.5 million sq ft across 100+ landmark projects since 1994.

Product overview

Heritage Group is a Mumbai-based real estate developer specializing in residential apartment projects. The company operates as a single unified product line focused on developing residential housing across Mumbai's eastern suburbs including Chembur, Ghatkopar, Powai, Mulund, Matunga, Bhandup, and Borivali. Their portfolio spans completed projects (Heritage Solitaire, Heritage Elegance, Janki Heritage, Balmukund Heritage, Geetanjali Heritage, Subha Heritage, Sandhya Heritage, Heritage Castle, Apsara Heritage, Arunoday Heritage, Sanjog Heritage, and multiple others), ongoing projects under construction (Madhur Milan Heritage, Heritage Emerald, Heritage Signature, Venkateswara Heritage, Dwarka Heritage, Heritage Vatika, Heritage Lakeside), and society redevelopment services. The company offers apartments ranging from 1 BHK to 5.5 BHK configurations across various price points, with a focus on premium amenities, Vastu-compliant design, and quality construction.

Differentiator

Problem solved

Functional benefit

Brands

• Heritage Emerald: Residential project in Ghatkopar East offering 1 BHK and 2 BHK apartments
• Heritage Solitaire
• Heritage Elegance
• Heritage Signature
• Heritage Lakeside
• Heritage Vatika
• Janki Heritage
• Madhur Milan Heritage
• Balmukund Heritage
• Dwarka Heritage
• Venkateswara Heritage

Products and services

• Heritage Solitaire Completed residential project in Chembur East offering spacious 2 BHK apartments with amenities including grand entrance lobby, tower car parking, multipurpose room, and proximity to Jain Temple, Chembur Monorail and Railway station.
• Heritage Elegance Sold residential project in Matunga featuring Art Deco inspired elevation with grand entrance lobby, spacious 2 BHK and 3 BHK apartments with deck areas, rooftop garden area, and covered car parking.
• Janki Heritage Completed residential project in Chembur East with Art Deco-inspired elevation, rooftop terrace garden, banquet area, cross ventilated flats, and high-speed elevators. Offers 1 BHK, 2 BHK & 3 BHK garden facing apartments with balcony.
• Madhur Milan Heritage Residential project under construction in Ghatkopar offering spacious 2 BHK & 3 BHK apartments in a 12-storied elegant building with Vastu compliant planning, multipurpose room, terrace garden, and proximity to R-City Mall and metro station.
• Balmukund Heritage Sold residential project in Chembur East featuring a magnificent G+12 storied building with aesthetic elevation, convenient car parking, and Vastu compliant planning. Offers 2 BHK apartments.
• Heritage Emerald Residential project under construction in Ghatkopar East with 10-storied elegant structure featuring spacious 1 BHK and 2 BHK apartments, multipurpose room, ample car parking, kids play area, and open view of garden.
• Heritage Signature Completed residential project in Chembur featuring 13-storeyed elegant elevation with spacious 2.5 BHK, 3 BHK & 5 BHK apartments with balcony, multipurpose room, G+2 podium car parking, only 2 flats per floor, rooftop terrace garden, and high speed elevators.
• Venkateswara Heritage Premium 4.5 BHK apartment project with terrace in Chembur featuring 12-storied elegant elevation, unobstructed view of Chembur Gymkhana Gardens, rooftop terrace garden, Vastu compliant planning, and provision for electric vehicle charging.
• Dwarka Heritage Under construction residential project in Chembur East featuring 12-storied elegant elevation with premium 2 BHK & 3 BHK apartments with balcony, multipurpose room, roof top terrace garden, and Vastu compliant planning.
• Heritage Vatika Residential project under construction in Chembur East featuring Vastu compliant planning, multipurpose room, parking, garden amenities, and high-quality construction.
• Heritage Lakeside Premium residential project in Powai featuring 2 & 3 BHK lake-facing balcony homes with spacious layouts, large balconies with lake and greenery views, rooftop terrace garden, fully equipped fitness centre, and kids play area.
• Geetanjali Heritage Sold elegant 12-storeyed tower in Diamond garden, Chembur East offering lavish 2 BHK & 3 BHK Apartments with options for Jodi flats, double height entrance lobby, and electric vehicle charging provisions.
• Subha Heritage Sold residential project in Powai offering 1 & 2 BHK flats with high performance elevator, security, Vastu compliant design, piped gas, CCTV/intercom, and reserved parking.
• Sandhya Heritage Sold 12-storied elegant tower in Chembur offering 1 BHK and 2 BHK flats with convenient car parking, 24/7 surveillance, and maintenance staff.
• Apsara Heritage 14-storied residential building overlooking Chembur Gymkhana with 2 level podium car parking, magnificent entrance lobby, and proximity to Ambedkar garden and Chembur railway station.
• Arunoday Heritage Sold 21-storied residential building in Bhandup West offering 1 & 2 BHK spacious apartments with grand entrance lobby, kids play area with garden and jogging track, gymnasium, and meditation room.
• Sanjog Heritage Sold residential project in Borivali East offering 1 & 2 BHK flats with convenient car parking, high speed elevators, gymnasium, banquet area, and proximity to Western Express Highway and Sanjay Gandhi National Park.
• Society Redevelopment Services

Segments3 records

Ideal customer profiles3 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Scale indicators6 records

Recent moves6 records

Expansion highlights5 records

Broad incumbents

• Lodha Group (Macrotech Developers): Macrotech Developers is India's largest listed residential real estate developer with deep Mumbai presence, particularly in eastern and central suburbs overlapping Heritage Group's territory. It competes for the same homebuyer and society redevelopment demand but at significantly greater scale, capital access, and brand recognition.
• Kalpataru Limited: Kalpataru is a diversified real estate developer with Mumbai residential projects overlapping eastern sub-markets. Its broader portfolio (residential, commercial, townships) and larger capital base make it a broad incumbent peer.
• Hiranandani Group: Hiranandani is a Mumbai-anchored premium developer with township-scale projects in Powai and other eastern suburbs where Heritage Group also operates. It competes for the same aspirational homebuyer segment with established township communities and larger marketing budgets.
• Godrej Properties: Godrej Properties is a national residential and commercial developer with a strong Mumbai portfolio across multiple sub-markets including Chembur and surrounding eastern suburbs. It serves similar buyer segments with branded residential projects and represents a much larger, listed competitor.

Direct peers

• Rustomjee Group: Rustomjee is a Mumbai-based residential developer with strong presence in Chembur and other eastern suburbs where Heritage Group operates. It targets similar mid-to-premium buyer segments with comparable BHK configurations and is one of the closest direct competitors in the same micro-markets.
• Oberoi Realty: Oberoi Realty is a Mumbai-focused premium residential developer with comparable project profiles, pricing points (₹1.5 Cr-₹5+ Cr range), and geographic focus on upscale Mumbai sub-markets. It is one of the closest comparables in terms of customer segment and product positioning.
• DB Realty: DB Realty is a Mumbai-based residential developer with projects across central and eastern suburbs. Its product mix of mid-premium 1-3 BHK apartments serves the same customer segment as Heritage Group.
• Sheth Creators: Sheth Creators is a Mumbai-focused residential developer active in eastern and central sub-markets including Vikhroli, Ghatkopar, and Powai. It directly competes for similar buyer profiles with comparable 1-3 BHK product offerings.
• Puranik Builders: Puranik Builders is a Mumbai and Pune residential developer with several projects in the eastern suburbs. Its mid-premium positioning, BHK range, and target buyer segment closely overlap with Heritage Group's portfolio.

Regional players

• Peninsula Land (Ashok Piramal Group): Peninsula Land is a Mumbai-anchored residential developer with projects in similar sub-markets, historically focused on luxury and premium segments. While its current scale is smaller than the largest incumbents, it competes for the same buyer pool in Mumbai.

Market position

Strengths4 records

Weaknesses4 records

Competitive moat5 records

Key risks6 records

Key highlights7 records

Customer concentration

• Facebookfacebook.com/officialHeritageGroup
• LinkedInlinkedin.com/company/heritage-group-pvt-ltd

Compliance1 record

Revenue estimate

Valuation estimate

Number of profiles

Profiles6 records

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Heritage Group