Crest Ventures Partners with Vensco Projects to Develop Luxury Real Estate in Mumbai

Crest Ventures Ltd, a Mumbai-based company with a strong presence in financial services and property development, has entered into a strategic partnership with Vensco Projects Ltd. The joint venture aims to develop a premium mixed-use real estate project in Chembur, Mumbai, with an estimated revenue of Rs 1,850 crore.

The project, spread across 11,000 square meters (approximately 2.5 acres), will be developed by Crest Ventures' subsidiary, Crest Urban Living. The company has entered into a Joint Development Agreement (JDA) with Vensco Projects LLP to bring this ambitious project to fruition.

In a statement, Crest Ventures highlighted that the project will feature a luxury mixed-use residential development with an estimated sales value or Gross Development Value (GDV) of about Rs 1,850 crore. The company did not disclose the specific investment required for the project, but it is expected to have a total saleable area of nearly 500,000 square feet.

Vijay Choraria, Managing Director of Crest Ventures, expressed his enthusiasm for the project, stating, 'Our upcoming project on Chembur's Golf Course Road represents a new chapter in Mumbai's luxury residential evolution.' This development is part of Crest Ventures' broader strategy to expand its footprint in the real estate sector, particularly in premium and mixed-use projects.

Crest Ventures has a track record of delivering high-quality developments across Mumbai and other parts of India. To date, the company has successfully completed over 10 million square feet of residential, commercial, and mixed-use projects in major Indian cities. In addition to its standalone projects, Crest Ventures has also partnered with The Phoenix Mills Ltd to develop retail and mixed-use destinations in Chennai and other key markets.

Crest Ventures is a Non-Banking Finance Company (NBFC) registered with the Reserve Bank of India (RBI). The company operates in two primary verticals: real estate and financial services. This new project in Chembur is expected to further solidify Crest Ventures' position in the luxury real estate market and contribute to the company's growth and revenue targets.

The partnership with Vensco Projects Ltd is a significant step for Crest Ventures, as it aligns with the company's vision to create world-class developments that meet the evolving needs of discerning homebuyers and investors. With the real estate market in Mumbai showing signs of recovery and growth, this project is poised to become a landmark development in the region.

As the project progresses, Crest Ventures and Vensco Projects are committed to adhering to the highest standards of quality, sustainability, and customer satisfaction. The development is expected to attract a diverse range of buyers, from young professionals to families looking for luxury living options in a prime location.