Sunteck Realty announces ₹1,200 crore GDV JDA project at Mira Road near Mumbai
Mumbai real estate: Sunteck Realty said the project, spread across 13,500 sq m with a development potential of 5.5 lakh sq ft, along the Western Express Highway
Listed real estate developer Sunteck Realty Ltd (SRL) announced on July 23 that it has entered into a joint development agreement (JDA) to develop 3.5 acres of land on Mira Road along the Western Express Highway near Mumbai. The project, spread across 13,500 sq m, will offer a development potential of 5.5 lakh sq ft of carpet area, with an estimated Gross Development Value (GDV) of ₹1,200 crore, the company said.
"This JDA reinforces our commitment to expanding in high-potential growth corridors of MMR. Mira Road, with its robust infrastructure pipeline and superior connectivity, offers an ideal canvas for creating a landmark luxury residential development. As seen with Sunteck SkyPark, we believe in transforming locations into lifestyle destinations. With this new development, we aim to deliver living experiences that elevate the value of the entire neighbourhood," said Kamal Khetan, chairman and managing director of Sunteck Realty Ltd.
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The company said the project has direct highway frontage and is adjacent to the upcoming Metro Line 9 (Miragaon Station) and has access to Dahisar and Mira Road railway stations.
{{/usCountry}}The company said the project has direct highway frontage and is adjacent to the upcoming Metro Line 9 (Miragaon Station) and has access to Dahisar and Mira Road railway stations.
{{/usCountry}}Upcoming infrastructure initiatives like the Borivali-Thane Tunnel and the Coastal Road Extension will further elevate connectivity, making the location even more desirable for discerning homebuyers and investors, the company said in a statement.
{{/usCountry}}Upcoming infrastructure initiatives like the Borivali-Thane Tunnel and the Coastal Road Extension will further elevate connectivity, making the location even more desirable for discerning homebuyers and investors, the company said in a statement.
{{/usCountry}}Also Read: Housing sales volume of Tier 1 real estate developers dips by 6% in FY25: Ind-Ra
{{/usCountry}}Also Read: Housing sales volume of Tier 1 real estate developers dips by 6% in FY25: Ind-Ra
{{/usCountry}}The company said that Mira Road has emerged as a high-absorption residential market in the Mumbai Metropolitan Region (MMR), backed by proximity to reputed educational institutions, healthcare centres, retail hubs, and green belts. With a growing demand for premium, well-connected living.
{{/usCountry}}The company said that Mira Road has emerged as a high-absorption residential market in the Mumbai Metropolitan Region (MMR), backed by proximity to reputed educational institutions, healthcare centres, retail hubs, and green belts. With a growing demand for premium, well-connected living.
{{/usCountry}}Also Read: Are Mumbai real estate prices moderating, giving homebuyers more room to negotiate?
Local brokers said the per-square-feet price for residential apartments in Mira Road, with exceptions, is ₹10,000 to ₹15,000.
