Sattva Group Expands its Footprint in Mumbai and Pune
Bengaluru-based real estate developer Sattva Group is pursuing multiple projects in Mumbai and Pune, with a focus on premium-luxury residential and commercial developments.
Sattva GroupMumbaiPuneReal EstateLuxury ResidentialReal Estate PuneSep 25, 2024
The company is also pursuing further land deals in the city, with a focus on securing larger-scale developments on its own. According to Shivam Agarwal, Vice President of Strategic Growth at Sattva Group, the company's approach in the Mumbai market emphasizes strategic timing and securing the best of opportunities.
As we are relatively new to this market, our approach emphasizes both strategic timing and securing the best of opportunities. While we have previously collaborated on a mixed-use project in Chembur, our current strategy is centered on exploring the Mumbai market independently. We are committed to pursuing larger-scale developments on our own, with the goal of establishing a significant presence in the city.
In addition to Mumbai, Sattva Group is also focusing on Pune, both for residential and commercial developments. The company has secured a couple of land parcels in Pune and is progressing with significant developments. Currently, it is constructing 1 million square feet of commercial space and is actively discussing other opportunities in both residential and commercial sectors.
Pune is emerging as a major hub for global capability centers for manufacturing, financial services, as well as tech firms. Real estate players, including flex space operators, have explored this market as well, both for offices and for the resultant demand in homes.
Sattva Group has constructed multiple residential projects in Bengaluru and Mumbai and is known for several marquee commercial real estate assets in both cities. Its clients include Google, Microsoft, Oracle, American Express, Walmart, and others, who have set up development centers and global capability centers at Sattva's facilities, chiefly in Bengaluru and Hyderabad.
According to media reports, the Sattva group has lined up around Rs 14,000 crore in investments across commercial and residential real estate assets, including assets like hotels and data centers. In partnership with private equity firm Blackstone and Pune-based developer Panchshil Realty, the company is also planning to launch an office real estate investment trust (REIT), with a total portfolio of around 40 million square feet.
Frequently Asked Questions
What is Sattva Group's strategy in the Mumbai market?
Sattva Group's strategy in the Mumbai market emphasizes strategic timing and securing the best of opportunities. The company is committed to pursuing larger-scale developments on its own, with the goal of establishing a significant presence in the city.
What is the status of Sattva Group's project in Sewri, Mumbai?
Sattva Group has closed its first deal in the premium-luxury residential segment in Sewri, Mumbai. The project is expected to be launched in the next three-to-four quarters, pending approvals.
What is Sattva Group's focus in Pune?
Sattva Group is focusing on both residential and commercial developments in Pune. The company has secured a couple of land parcels and is progressing with significant developments.
What is the size of Sattva Group's commercial space under construction in Pune?
Sattva Group is currently constructing 1 million square feet of commercial space in Pune.
What is the total investment lined up by Sattva Group across commercial and residential real estate assets?
According to media reports, Sattva Group has lined up around Rs 14,000 crore in investments across commercial and residential real estate assets, including assets like hotels and data centers.
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