Hiranandani Developers is planning, over the next few months, to revamp and relaunch two townships projects that it bought this year for around Rs 1,000 crore..

The two townships, spread across 157 acre in Chennai and 588 acre at Panvel, in Navi Mumbai, have been stalled for nearly two years.

Hiranandani bought the Panvel project in October and has decided to call it Hiranandani Hills. The Chennai township was bought earlier this year in an electronic auction and will be called Hiranandani Parks. Both the upcoming projects belonged to Hirco.

Phase-I in the Chennai township has 1,584 apartments, of which 496 apartments have been completed and the remaining 1,088 apartments are under various stages of construction. In Panvel, 1,176 apartments in Phase-I are under various stages of construction while 600 apartments in the second phase are yet to be constructed.

Hiranandani Developers, which has developed mixed-use townships in Mumbai’s Powai area and Thane, is now gearing up to launch projects in cities like Nashik, Pune and Ahmedabad.