Luxury real estate developer Sunteck Realty Ltd has entered into an agreement to acquire around 50 acres of land parcels in the emerging micro market Vasind in Thane district, with a revenue potential of Rs 1250crore over the next four to five years.
The project will be developed into an integrated township of approximately 2.6 million square feet. It will be largely residential, catering to the affordable segment, the company said.
“The second strategic acquisition in the midst of the epidemic complements our strategy to strengthen our brand presence”. Kamal Khaitan, Chairman and Managing Director of Sunset Realty Ltd said that “Our Vasind acquisition reflects our differentiated philosophy of focusing on strategic locations along with growth.”
“The project will be largely residential, catering to the affordable segment. With the ongoing Covid-19 scenario, I believe our upcoming projects will continue to cater to the emerging needs of the client: the residential complex that complements today’s lifestyle and suits the needs of work-from-home, “he said.
The project provides local connectivity, which is strategically placed near the railway station as well as NH3 with access to major social and civic infrastructure in the area.
It has differentiated its projects under five brands – ‘Signature’: Uber Luxury Residence, ‘Signia’: Ultra-Luxury Residence, ‘Sunteck City’: Premium Luxury Residence, ‘Sunteck World’: Aspirational Luxury Residence, ‘Sunteck’: Commercial and Retail Development.
Some of its flagship projects include Signature Island at Bandra Kurla Complex (BKC), SunteckWorld at Oshiwara District Center (ODC), in Goregaon, and SunteckWorld at Naigaon – the largest township in MMR’s Western Suburbs.