Advertisement
When should a housing society in Mumbai start considering re...
From GST on JDAs to SEBI’s REIT reclassification and the S...
Stay ahead in the world of real estate with our daily podcas...
Stay ahead in the world of real estate with our daily podcas...
Mumbai-based Crest Ventures has partnered with Vensco Projects to develop a premium mixed-use residential project in Chembur, with an estimated gross development value of around INR 1,850 crore. Located on Golf Course Road, the luxury development will span about 2.5 acres and offer nearly 5 lakh sq ft of saleable area. The project reflects rising demand for high-end housing in eastern Mumbai, driven by improved connectivity and established social infrastructure. Crest Ventures said the development aligns with its luxury housing strategy and changing buyer preferences for integrated, well-planned communities. Chembur continues to attract developers as a key residential micro-market, with mixed-use projects gaining traction for their lifestyle appeal and long-term value.
Mumbai-based Crest Ventures Ltd has partnered with Vensco Projects LLP to develop a premium mixed-use real estate project in Chembur, Mumbai, with an estimated gross development value of around INR 1,850 crore. Advertisement
Crest Ventures said its wholly owned subsidiary, Crest Urban Living, has entered into a joint development agreement with Vensco Projects for the project, which will be located along Golf Course Road in Chembur. The proposed development will be spread across a land parcel of about 11,000 square metres, or roughly 2.5 acres.
According to the company, the project will be positioned as a luxury mixed-use residential development. It will have a total saleable area of nearly 5 lakh square feet. While the company has not disclosed the total investment required for construction, it said the project is expected to contribute significantly to its future real estate portfolio.
Chembur has emerged as one of Mumbai's prominent residential locations in recent years, supported by improved connectivity, social infrastructure, and proximity to key commercial hubs. The area has seen growing demand for premium housing, driven by buyers seeking larger homes and integrated developments offering residential and lifestyle amenities within a single project.
Vijay Choraria, Managing Director of Crest Ventures, said the Chembur project marks an important step in the company's luxury housing strategy in Mumbai. He added that the development reflects changing preferences in the city's residential market, where demand is increasingly shifting towards high-quality, well-planned mixed-use projects in established neighbourhoods.
Crest Ventures is currently developing multiple residential projects across Mumbai and other parts of the country. The company said it continues to focus on selectively expanding its real estate footprint in key urban markets, where long-term demand fundamentals remain strong.
Over the years, Crest Ventures has delivered more than 10 million square feet of residential, commercial, and mixed-use developments across major Indian cities. Its portfolio includes housing projects, office spaces, and integrated developments catering to varied customer segments.
The company has also partnered with The Phoenix Mills Ltd to develop retail and mixed-use destinations in cities such as Chennai and other important markets. These projects include large-format malls and integrated commercial developments that combine retail, hospitality, and office components.
Apart from real estate, Crest Ventures operates in the financial services sector. It is a non-banking finance company registered with the Reserve Bank of India and runs its business through two main verticals real estate development and financial services.
Industry experts note that joint development agreements have become a preferred structure for real estate projects in Mumbai, allowing developers to optimise capital deployment while leveraging local land ownership and development expertise. Mixed-use projects, in particular, are gaining traction as they offer diversified revenue streams and align with urban planning trends focused on efficient land use.
The Chembur project is expected to add to the supply of premium housing in eastern Mumbai, a region that has seen steady residential activity due to improved infrastructure and connectivity. With demand for quality homes remaining resilient in well-located micro-markets, developers continue to pursue projects that combine residential living with supporting commercial and lifestyle elements.
Source: PTI
5th Jun, 2025
25th May, 2023
11th May, 2023
27th Apr, 2023
Advertisement
Facebook
Whatsapp
