This real estate company unveils ambitious redevelopment project in Sion targeting Rs 1,000 crore revenue

The total project cost is estimated at around Rs 500 crore, and the project, initiated on May 25, 2024, is scheduled to be completed within four years from the start of construction.

With the Reserve Bank of India (RBI) pausing rate hikes and real estate developers ramping up business development, the Indian real estate industry is experiencing a golden period. This optimism is fuelled by government initiatives to boost the sector and strong demand, as reflected in presales figures. Housing demand in India’s top seven cities surged by 28 per cent year-on-year in April 2024, with millennials playing a crucial role in driving this unprecedented demand. Additionally, the redevelopment segment is also enjoying significant growth.

Sheth Realty, a well-known player in the real estate sector, is set to inaugurate its maiden redevelopment venture in the heart of Mumbai, at the vibrant locale of Sion. This project, spanning approximately 2 acres, promises a blend of premium residential spaces, retail outlets, and a serene temple nestled within the premises. With an investment exceeding Rs 150 crore, this ambitious endeavour is projected to generate a substantial topline of around Rs 1,000 crore.

The total project cost is estimated at around Rs 500 crore, underscoring the magnitude of this undertaking. The project, initiated on May 25, 2024, is scheduled to be completed within four years from the start of construction.

In a strategic collaboration with Aakshya Group, a distinguished construction service enterprise known for its innovative approach, this joint venture represents a fusion of expertise and cutting-edge innovation. The company has successfully completed projects in Hinjawadi, Wakad, and Vadgaonsheri, with an ongoing project in Kondhwa. It is a privately held company and is not listed on the stock exchange.

Disclaimer: The article is for informational purposes only and not investment advice.