Sunteck buys 7 acre for luxury project in Mumbai
Sunteck Realty Limited, has secured a marquee approximately 7 acres of land in Borivali (West) in Mumbai. Sunteck Realty Limited will develop a luxury residential project in the upmarket residential locality. JLL India was the exclusive transaction partner for the joint venture.
Acquired under the asset light Joint Development Agreement (JDA) model the residential project will have approximately 1 million sq ft of development potential. It is expected to generate a project top line of around Rs 1,750 crore over the next 4-5 years.
Borivali (West), a northern suburb of Mumbai, enjoys good road and rail connectivity and social infrastructure. The upcoming metro line 2A runs through the suburb, connecting Dahisar to DN Nagar and further to other parts of the city via multiple lines. The Coastal Road Project will also significantly reduce travel time.
Sunteck Realty Limited (SRL) is a Mumbai-based luxury real estate development company.
JLL is a professional services firm that specialises in real estate and investment management.
Written from a company news release.
Image: Sunteck Signia High, Borivali East