Mumbai-based Sunteck Realty Limited (SRL) on Wednesday, July 23, said it has entered into a joint development agreement (JDA) to develop a prime 3.5-acre land parcel in Mira Road, located along the Western Express Highway in Mumbai.
The project, with an estimated gross development value (GDV) of ₹1,200 crore, marks a significant addition to Sunteck’s growing portfolio in the rapidly developing micro-market. The land parcel, measuring approximately 13,500 square metres, offers a development potential of around 5.5 lakh square feet of carpet area.
This acquisition will expand Sunteck’s presence in Mira Road, where it already has a successful footprint through its premium-luxury project, Sunteck SkyPark. That project alone has achieved cumulative sales exceeding ₹1,000 crore.
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Strategically located with direct highway frontage and excellent connectivity, the site is adjacent to the upcoming Metro Line 9 (Miragaon Station) and benefits from seamless access to Dahisar and Mira Road railway stations.
Moreover, upcoming infrastructure initiatives like the Borivali-Thane tunnel and the Coastal Road extension will further elevate connectivity, making the location even more desirable for discerning homebuyers and investors.
The upcoming project will feature state-of-the-art amenities alongside views of the Sanjay Gandhi National Park.
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Mira Road has emerged as a high-absorption residential market in MMR, backed by proximity to reputed educational institutions, healthcare centres, retail hubs, and green belts.
Shares of Sunteck Realty Ltd ended at ₹437.85, down by ₹6.75 or 1.52%, on the BSE.
