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Sunteck Realty to develop INR 1,200 crore luxury project at Mira Road via joint venture

#Builders & Projects#Residential#India#Maharashtra
Last Updated : 24th Jul, 2025
Synopsis

Sunteck Realty Ltd has signed a joint development agreement with a private landowner to build a luxury residential project on a 3.5-acre plot at Mira Road, Mumbai. Located along the Western Express Highway, the project will offer 5.5 lakh sq ft of saleable RERA carpet area, with an estimated Gross Development Value (GDV) of INR 1,200 crore. This move aligns with Sunteck's asset-light strategy focused on premium housing in emerging suburban markets. Known for upscale developments in Goregaon, Oshiwara, and Naigaon, the company continues to secure key land parcels through partnerships, aiming to meet rising demand in fast-growing transit-linked corridors.

Sunteck Realty Ltd has entered into a joint development agreement with a private landowner to build a luxury residential project at Mira Road, Mumbai. According to a regulatory filing made by the company, the land parcel spans 3.5 acres and is located along the Western Express Highway.


The proposed development is expected to generate a saleable RERA carpet area of 5.5 lakh square feet. Sunteck Realty stated in its communication that the estimated Gross Development Value (GDV) of the project stands at INR 1,200 crore.

The firm, counted among the country's leading real estate developers, continues to pursue asset-light expansion strategies in the Mumbai Metropolitan Region. This new venture at Mira Road complements the company's recent focus on premium residential segments in fast-developing suburban micro-markets.

Sunteck Realty has a track record of launching upscale residential townships and standalone luxury towers across areas such as Goregaon, Oshiwara, and Naigaon. This latest collaboration reflects the company's continued effort to secure prime land parcels through development partnerships rather than outright purchases, thereby optimising capital deployment.

By partnering with landowners and targeting emerging locations, Sunteck aims to capitalise on rising demand for quality housing, especially along key transit routes like the Western Express Highway.

Source - PTI

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