Suraj Estate Developers Ltd acquires Land Parcel at Shivaji Park, Dadar (West), Mumbai

Suraj Estate Developers Limited (SEDL), a prominent real estate developer in South Central Mumbai, has acquired a land parcel measuring ~390 square meters (~4,200 square feet), located at Plot No. 136, Shivaji Park Scheme, M. B. Raut Road, Shivaji Park, Dadar, Mumbai - 400 028, for a total consideration of INR 4.75 Crores. The full payment, including stamp duty and registration charges, has been successfully made.

The Company plans to develop a luxury residential project by leveraging the FSI benefits under Regulation 33(7), along with the potential for a clubbing scheme as per Regulation 33(7)(22) of the DCPR 2034. The project is expected to offer a saleable RERA carpet area of approximately 0.16 lakh square feet, with an estimated gross development value (GDV) of ~Rs. 80.00 Crores.

The recently acquired land parcel is strategically situated at Shivaji Park, offering scenic sea views and being in close proximity to the upcoming Siddhivinayak Metro Station. The planned residential project will feature 2 BHK and 3 BHK apartments with spacious carpet areas, designed to meet the increasing demand for luxury living in the area.

Mr. Rahul Thomas, Promoter and Whole-Time Director of Suraj Estate Developers Limited, said, This strategic acquisition aligns with our vision to create exceptional luxury living spaces in prime locations. We are confident that this project will meet the evolving needs of discerning buyers and contribute to the development of the Shivaji Park area. As we continue to expand our footprint in the real estate sector, we remain committed to delivering world-class residential projects that offer both value and unmatched living experiences for our customers."

Shares of Suraj Estate Developers Limited was last trading in BSE at Rs. 290.55 as compared to the previous close of Rs. 283.65. The total number of shares traded during the day was 37628 in over 1298 trades.

The stock hit an intraday high of Rs. 309.00 and intraday low of 285.65. The net turnover during the day was Rs. 10956685.00.

Source : Equity Bulls

Keywords

SurajEstateDevelopers Residential Commercial INE843S01025 LandParcel Acquisition ShivajiPark Dadar