Sunteck Realty Limited has secured a marquee seven-acre land parcel at Borivali (West) in Mumbai.
The company will develop a luxury residential project in the upmarket residential locality, said a press release. JLL India was the transaction partner for the JV.
The project will have approximately 1 million sq. ft. of development potential and is expected to generate a top-line of around Rs 1,750 crore over the next four to five years, the release said further.
“We are pleased to have entered this joint venture. Given the land parcel is overlooking the sea, this development shall provide an opportunity to curate a unique and world class residential product consistent with the Sunteck brand. We shall bring in our best in class construction and development capabilities of luxury living. Our endeavor is to create a landmark development in this micro-market” said Kamal Khetan, Chairman, Sunteck Realty Limited.