+
Suraj Estate Arm Acquires Mahim Land Rights
Real Estate

Suraj Estate Arm Acquires Mahim Land Rights

Suraj Estate Developers, through its wholly owned subsidiary Iconic Property Developers, has signed an MoU to acquire development rights for a land parcel in Mahim (West), Mumbai, for Rs 75 crore. The plot measures around 2,941 sq m and is located next to the company’s ongoing commercial project, Suraj One Business Bay.

After amalgamation with the existing commercial development, the land is expected to generate additional saleable carpet area of around 1.50 lakh sq ft, with an estimated gross development value of Rs 800 crore. The project is expected to strengthen the company’s near-to-medium term pipeline and expand its presence in South Central Mumbai.

Mahim is an established Mumbai micro-market with strong demand, connectivity and access to key business districts such as Lower Parel, Worli and Bandra Kurla Complex.

Rahul Thomas, Whole-Time Director, Suraj Estate Developers, said the acquisition would expand the company’s commercial footprint in South Central Mumbai. He added that, with this acquisition, the combined GDV of Suraj One Business Bay would exceed Rs 2,000 crore.

Suraj Estate Developers has been operating in real estate since 1986, with a focus on residential and commercial projects in South Central Mumbai. The company has completed over 45 projects covering more than 16.09 lakh sq ft and has 13 ongoing projects with a developable area of 23.54 lakh sq ft.

Suraj Estate Developers, through its wholly owned subsidiary Iconic Property Developers, has signed an MoU to acquire development rights for a land parcel in Mahim (West), Mumbai, for Rs 75 crore. The plot measures around 2,941 sq m and is located next to the company’s ongoing commercial project, Suraj One Business Bay.After amalgamation with the existing commercial development, the land is expected to generate additional saleable carpet area of around 1.50 lakh sq ft, with an estimated gross development value of Rs 800 crore. The project is expected to strengthen the company’s near-to-medium term pipeline and expand its presence in South Central Mumbai.Mahim is an established Mumbai micro-market with strong demand, connectivity and access to key business districts such as Lower Parel, Worli and Bandra Kurla Complex.Rahul Thomas, Whole-Time Director, Suraj Estate Developers, said the acquisition would expand the company’s commercial footprint in South Central Mumbai. He added that, with this acquisition, the combined GDV of Suraj One Business Bay would exceed Rs 2,000 crore.Suraj Estate Developers has been operating in real estate since 1986, with a focus on residential and commercial projects in South Central Mumbai. The company has completed over 45 projects covering more than 16.09 lakh sq ft and has 13 ongoing projects with a developable area of 23.54 lakh sq ft.

Related Stories

Gold Stories

Next Story
Infrastructure Urban

Assam Gets Approval For 350,000 PMAY Homes

Assam Chief Minister Himanta Biswa Sarma met Union Agriculture Minister Shivraj Singh Chouhan in New Delhi, where the minister handed an approval document for 310,000 new homes under the Pradhan Mantri Awas Yojana. The chief minister subsequently posted on X expressing gratitude and noting that the minister had formally handed approval for 380,000 homes as well. The release and the social media post contained varying figures, with broader references to 350,000 homes reported in some summaries. The approvals carry central assistance equivalent to Rs 50 billion (bn), corresponding to the five th..

Next Story
Infrastructure Urban

KPIGreen Achieves Highest Energised Capacity of 630+ MW DC

KPI Green Energy energised more than 630 MW DC of capacity in the June to August quarter, marking the highest quarterly addition in the company's history. The capacity was brought online across its Independent Power Producer (IPP) and Engineering, Procurement and Construction (EPC) businesses. The company said the achievement reflected the scale, speed and consistency of its project execution engine. The firm described the quarter as a material operational milestone since its founding. The milestone covers a diversified mix of IPP assets and projects executed under the EPC vertical, spanning u..

Next Story
Infrastructure Energy

Adani Energy Solutions Wins Rs 47 bn Maharashtra Transmission Project

Adani Energy Solutions has won a transmission contract in Maharashtra valued at Rs 47 billion (Rs 47 bn) to evacuate 4,500 megawatt (MW) of renewable and storage power. The company informed exchanges that the project will facilitate pumped storage potential near Satara and strengthen the inter-regional corridor between the Western and Southern grids. The award follows a competitive bidding process and will support renewable energy evacuation to major load centres in the state. The scope includes establishment of a 765/400 kV substation at Satara, construction of a Kolhapur-Satara 765 kV double..

Advertisement

Subscribe to Our Newsletter

Get daily newsletters around different themes from Construction world.

STAY CONNECTED

Advertisement

SPECIAL OFFER
QR Code