Sunteck Realty acquires plot near Mumbai for second home project
Real Estate

Sunteck Realty acquires plot near Mumbai for second home project

Sunteck Realty has purchased approximately 110 acres of land along the Pen-Khopoli Road as part of an asset-light joint development agreement (JDA) strategy to develop a second home project, according to a press release.

This property will be developed into plots and bungalows. The project is close to Pen City and has a 4-5 million sq ft development potential.

The company has acquired several projects in the Mumbai Metropolitan Region (MMR) over the last 18 months using the asset-light JDA model.

Kamal Khetan, chairman, Sunteck Realty said that they continue to make astute acquisitions and value-adding diversifications in the housing real estate market, confirming that the industry is consolidating behind branded, financially sound developers.

It recently purchased a 50-acre land parcel in Shahad (Kalyan) with the potential to develop a 10-million sq ft integrated residential township worth Rs 9,000 crore.

The company also bought a 50-acre land parcel in Vasai (West) with a development potential of 4.5 million square feet and a revenue potential of around Rs 5,000 crore, as well as a 2.6 million sq ft development in Vasind.

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Also read: Bengaluru development body nods Rs 4,500 cr for residential project

Sunteck Realty has purchased approximately 110 acres of land along the Pen-Khopoli Road as part of an asset-light joint development agreement (JDA) strategy to develop a second home project, according to a press release. This property will be developed into plots and bungalows. The project is close to Pen City and has a 4-5 million sq ft development potential. The company has acquired several projects in the Mumbai Metropolitan Region (MMR) over the last 18 months using the asset-light JDA model. Kamal Khetan, chairman, Sunteck Realty said that they continue to make astute acquisitions and value-adding diversifications in the housing real estate market, confirming that the industry is consolidating behind branded, financially sound developers. It recently purchased a 50-acre land parcel in Shahad (Kalyan) with the potential to develop a 10-million sq ft integrated residential township worth Rs 9,000 crore. The company also bought a 50-acre land parcel in Vasai (West) with a development potential of 4.5 million square feet and a revenue potential of around Rs 5,000 crore, as well as a 2.6 million sq ft development in Vasind. Image SourceAlso read: Bengaluru development body nods Rs 4,500 cr for residential project

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