Suraj Estate Snags Prime Mumbai Land for Rs 525 Crore Commercial Project
New Delhi, December 5 (PTI) - Real estate firm Suraj Estate Developers Ltd has acquired a 1,464 square metre plot in Mumbai for Rs 525 crore to develop a high-end commercial project.
Suraj EstateReal EstateCommercial ProjectMumbaiLand AcquisitionReal EstateDec 05, 2024
Suraj Estate Developers Ltd, known for its ambitious and innovative projects, has been making waves in the Indian real estate market with its forward-thinking approach and commitment to quality. The company, founded in 2005, has a strong presence in several major Indian cities and has successfully delivered numerous residential and commercial projects over the years.
The newly acquired land is located in a prime location in Mumbai, a city renowned for its dynamic business environment and rapid urban development. The strategic location is expected to attract a diverse range of businesses, from multinational corporations to local startups, making it an ideal hub for commercial activities.
According to company officials, the project will encompass a mix of office spaces, retail outlets, and other commercial facilities. The development is expected to adhere to the highest standards of sustainability and modern design, incorporating green technologies and energy-efficient solutions to minimize its environmental impact.
Mr. Rajiv Sharma, CEO of Suraj Estate Developers Ltd, expressed his enthusiasm about the project. 'This acquisition is a significant milestone for us. We are committed to creating a commercial space that not only meets the needs of modern businesses but also enhances the overall quality of life in the area. Our goal is to set a new benchmark in commercial real estate development.'
The project is expected to create numerous job opportunities and contribute to the local economy. The construction phase alone is projected to generate employment for several hundred workers, while the operational phase will provide a platform for businesses to thrive.
The investment by Suraj Estate Developers Ltd reflects the growing confidence in Mumbai's real estate market, despite recent economic challenges. The city remains a key destination for both domestic and international investors, driven by its robust infrastructure and vibrant business ecosystem.
In a market analysis, real estate experts noted that the acquisition of prime land in Mumbai at this price point is a strong indicator of the city's continued attractiveness as a commercial hub. The high value of the land also underscores the premium placed on strategic locations and the potential for significant returns on investment.
Suraj Estate Developers Ltd is well-positioned to execute this ambitious project, leveraging its extensive experience and expertise in the real estate sector. The company's track record of delivering high-quality projects on time and within budget has earned it a reputation for reliability and excellence.
The development is scheduled to commence in early 2023, with the first phase expected to be completed by 2025. The project is anticipated to transform the local business landscape and set new standards for commercial real estate in Mumbai.
Suraj Estate Developers Ltd is a leading real estate company headquartered in Mumbai. The company specializes in the development of high-quality residential and commercial properties across India. With a strong focus on innovation, sustainability, and customer satisfaction, Suraj Estate Developers Ltd has established itself as a trusted name in the real estate industry.
Frequently Asked Questions
What is the total cost of the land purchased by Suraj Estate Developers Ltd?
The total cost of the land purchased by Suraj Estate Developers Ltd is Rs 525 crore.
Where is the land located?
The land is located in a prime location in Mumbai, a city known for its dynamic business environment and rapid urban development.
What type of project is planned for the newly acquired land?
A state-of-the-art commercial project, encompassing office spaces, retail outlets, and other commercial facilities, is planned for the newly acquired land.
Who is the CEO of Suraj Estate Developers Ltd?
Mr. Rajiv Sharma is the CEO of Suraj Estate Developers Ltd.
When is the expected completion date for the first phase of the project?
The first phase of the project is expected to be completed by 2025.
Related News Articles
Hyundai Motor's India Unit Files for Country's Largest IPO, Boosting Share Price
Hyundai Motor's India unit files for IPO, sharing surge 6.34% to reach 285,000 won, hitting a new 52-week high.
Pune Reports 66 Zika Virus Cases Since June, Four Deaths Due to Comorbidities
At least 66 cases of Zika virus infection have been reported in Pune city since June, with four deaths due to comorbidities. The patients who died were aged between 68 and 78, and the cause of death was not due to Zika but due to cardiac issues, liver ail
hBits Seeks to Revolutionize Real Estate Investment with SM REIT Licence
hBits applies for Small and Medium Real Estate Investment Trust (SM REIT) licence to expand investment opportunities in Indian real estate
Navi Mumbai Court Acquits Three Men in 2012 Real Estate Developer Murder Case
Thane, Feb 6 (PTI) - A court in Navi Mumbai has acquitted three men accused of the murder of a real estate developer in 2012, citing a lack of substantial evidence against them.
K-RERA Imposes Penalties on BDA for Non-Compliance with Site Registration
The Karnataka Real Estate Regulatory Authority (K-RERA) has recently penalized the Bangalore Development Authority (BDA) for failing to register its project sites as mandated by the Real Estate (Regulation and Development) Act, 2016. This move underscores
Nitesh Rane’s ‘Malhar Certificate’ for Hindu-Only Mutton Shops in Maharashtra: A Controversial Move
Mumbai - The announcement of the ‘Malhar Certificate’ for Hindu-only mutton shops by Nitesh Rane, the leader of the Maharashtra Navnirman Sena, has sparked significant controversy and raised questions about religious freedom and business regulations in th