Real estate company Sunteck Realty has sealed a Joint Development Agreement for a 3.5-acre plot situated in Mira Road, with an estimated worth of ₹12 billion.
Sunteck Realty Expands in Mira Road with Luxury Residential Project
Sunteck Realty, a prominent name in the Mumbai real estate market, has announced a new luxury residential development in the bustling area of Mira Road. This new project, situated on a 3.5-acre land parcel, is expected to contribute approximately 5.5 lakh square feet of carpet area to Sunteck's assets, with a gross development value (GDV) of ₹1,200 crore.
The development, yet to disclose specific configuration and timeline details, is strategically located along the Western Express Highway and enjoys superb connectivity. It is close to Dahisar and Mira Road train stations and will benefit from the future Metro Line 9 (Miragaon Station). Major road projects like the Borivali-Thane tunnel and the Coastal Road extension are anticipated to further enhance the area's attractiveness for both homebuyers and investors.
Sunteck Realty has signed a joint development agreement to develop this prime piece of land. The company's established presence in Mira Road, demonstrated by the success of its premium project Sunteck SkyPark, has cumulatively sold properties worth over ₹1,000 crore, adding to the confidence in this new development's market appeal.
The new development will offer contemporary facilities and sweeping vistas of the Sanjay Gandhi National Park. The location provides easy access to major transportation hubs, educational institutions, hospitals, retail, and green spaces, making it an attractive option for those seeking luxury homes in a rapidly developing micro-market.
With this new development, Sunteck Realty continues its growth in the Mira Road micro-market. The company's current high-end project, Sunteck SkyPark, has already achieved total sales exceeding ₹10 billion, demonstrating the demand for quality real estate in the area.
This new project by Sunteck Realty is not related to any political figures, sports startups, or policies. It simply represents Sunteck's commitment to delivering high-quality, luxurious living spaces in prime locations. The anticipated gross development value (GDV) of the initiative is Rs 12 billion, signifying its significant contribution to Sunteck's portfolio.
As more details about the project are revealed, potential buyers and investors can look forward to a luxurious living experience in a rapidly developing area with excellent connectivity and amenities.
- The announcement of Sunteck Realty's new luxury residential development in Mira Road opens opportunities for investing in the flourishing real estate market of Mumbai, given its promising gross development value of Rs 12 billion.
- In the bustling micro-market of Mira Road, Sunteck Realty's strategic partnership for a commercial development could potentially generate revenue from both homebuyers and investors, owing to its prime location and excellent connectivity.
- Parallel to Sunteck Realty's repeated success in Mira Road's real estate sector, the region's growth in sports infrastructure and educational facilities may encourage investors to consider its potential as a diversified investment opportunity in the future.
