Mumbai real estate firm Sunteck Realty has signed a joint development agreement (JDA) for a prime 3.5-acre land plot on Mira Road, along the Western Express Highway. The land, measuring around 13,500 sq. mts., has a development potential of about 5,50,000 sq-ft carpet area, with an estimated Gross Development Value (GDV) of Rs 1,200 crore.
This strategic initiative further solidifies Sunteck's dominance in this fast-growing micro-market, where it has already established a successful presence through its luxury-premium project Sunteck SkyPark, which has achieved sales of over Rs 1,000 crore.
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Kamal Khetan Chairman and Managing Director Sunteck Realty stated, "This JDA only adds to our resolve to grow in high-growth potential MMR growth corridors. Mira Road with its strong infra pipeline and better connectivity presents a perfect canvas to develop a landmark luxury housing project. As with Sunteck SkyPark, we believe in redefining places into way-of-life hubs. With this new project, we want to provide living experiences that bring an added value to the entire neighborhood."
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The future project has direct highway frontage and is situated near the future Metro Line 9 (Miragaon Station), making it easily accessible to Dahisar and Mira Road railway stations. It will also be aided by future infrastructure developments such as the Borivali-Thane Tunnel and the Extension of the Coastal Road.
Created to boast of top-class facilities, panoramic views of Sanjay Gandhi National Park, and Sunteck's excellence in design, the project is aimed at high-end families looking for luxury living in an easily accessible area.
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