Mumbai-based Sunteck Realty (SRL) has entered into a joint development agreement (JDA) to develop a 3.5-acre land parcel in Mira Road, Mumbai. The project, with an estimated gross development value (GDV) of Rs 12 billion, will add approximately 5.5 lakh square feet of carpet area to the company’s portfolio.

The land parcel, measuring about 13,500 square metres, is strategically located along the Western Express Highway, offering excellent connectivity via the upcoming Metro Line 9 (Miragaon Station), and proximity to Dahisar and Mira Road railway stations.

This marks Sunteck’s continued expansion in the Mira Road micro-market, where its existing premium project, Sunteck SkyPark, has already recorded cumulative sales of over Rs 10 billion.

The upcoming development will feature modern amenities and panoramic views of the Sanjay Gandhi National Park. Infrastructure upgrades such as the Borivali-Thane tunnel and the Coastal Road extension are expected to further boost the appeal of the location for homebuyers and investors.

News source: CNBC TV18