Listed property developer Sunteck Realty has entered into a joint development agreement to undertake a 2.5 million sq ft residential-led mixed-use project on a 7.25-acre land parcel in Mira Road near Mumbai.
The project is estimated to have a total revenue potential of Rs 30 billion. The company has entered into a revenue-sharing alliance with a local real estate developer for this land parcel in the Beverly Park locality of Mira Road.
As part of the project that will be executed in phases, the company is planning to develop high-rise luxury housing along with a certain part as a retail component.
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