Sunteck Realty acquires prime project in Andheri West

Sunteck Realty Limited has acquired a prime project near Mumbai’s Lokhandwala, Off New Link Road,  Andheri (West) with the potential for development of approx. 1.1 mn sq.ft in saleable area and a revenue of over Rs. 2,500 crore in the next 4-5 years.

The project is acquired under the asset light Joint Development Agreement (JDA) model focused on establishing a strategic tie-up with credible partners, which will further strengthen the cash flow and balance sheet of the company.

It will bring the luxury quotient along with the right offering, which will drive volume and garner the maximum potential to the project. It will set a new benchmark for luxury homes with the right mix of commercial and retail providing the right pricing and value to the buyers.

The dynamic civic and social infrastructure, the project lies in close proximity to posh localities - Versova,  Lokhandwala and Juhu. The project is located between the two major connectivity nodes of New Link Road and Veera Desai Road. Some of the major connectivity and infrastructure projects announced like the upcoming metro lines add considerable leverage to the acquisition. The project has easy access and direct connectivity to most of the Mumbai via road and metro.

With this venture, Sunteck Realty is all set to redefine the luxury housing at the right pricing and value in an area which is home to some of the top-notch celebrities.

On Tuesday, the stock of Sunteck Realty slipped by 3.75 to close at Rs. 440.20 against its previous close on BSE. During the session, it made intraday high and low of Rs. 463.40 and Rs. 432.75 respectively.