Mumbai-based Sunteck Realty plans to develop a 50-acre land parcel at Shahad (Kalyan).
According to a press release, the company would develop a luxury integrated residential township in this location under a joint development agreement (JDA) with Amar Dye Chem.
This, said the release, would be another exceptional acquisition by the company, establishing its presence in the eastern suburbs of Mumbai Metropolitan Region (MMR). The project is expected to generate a top line of around Rs 9,000 crore over the next seven to eight year, added the release.
“We are happy to announce this value-accretive joint development plan with Amar Dye Chem Ltd. In line with the trends seen post-pandemic, there is a growing demand for good peripheral locations around major metros. Thus, we are pleased to announce our entry into MMR’s robust eastern micro-market of Shahad (Kalyan),” said Kamal Khetan, Chairman, Sunteck Realty Limited.