Sunteck Realty Ltd is set to enter the second-home space with the acquisition of approximately 110 acres on Pen-Khopoli Road under the asset-light JDA strategy.
The land will be used for development of plotted and luxurious bungalows development, said a press release. The project has a prominent river frontage, it said.
Kamal Khetan, Chairman, Sunteck Realty Limited, said, “We continue to make astute acquisitions and value-accretive diversifications within the housing real estate market, giving credence to the outlook that the industry is consolidating behind branded, financially strong developers.”
He added: “With the current project offering of a luxurious, larger second home for those yearning to be away from the hustles and bustles of the city, Sunteck is now present across the full-value spectrum for our customers.”