Mumbai-based real estate firm Sunteck Realty Limited has acquired a two-acre land parcel in Andheri East, near the Mumbai International Airport. The plot, which had been mired in litigation for over a decade, is expected to generate a gross development value (GDV) of around ₹2,500 crore, the company said on Jan 20.
Located off Andheri–Kurla Road, the acquisition reinforces Sunteck’s focus on expanding within Mumbai’s established micro-markets. The deal aligns with the company’s long-term strategy of building scale in high-demand urban corridors and strengthening its presence in Mumbai, the company said in a statement.
The greenfield land parcel is located in Andheri East, within one of Mumbai’s most established mixed-use districts that supports both commercial and residential development. The site is situated less than 400 metres from Andheri–Kurla Road and within 250 metres of Sahar Road, offering immediate access to key arterial corridors and strong connectivity to the Western Express Highway.
Backed by metro connectivity, the location sits within a mature urban ecosystem marked by premium hotels, established office developments, and well-developed residential neighbourhoods, the company said.
{{/usCountry}}Backed by metro connectivity, the location sits within a mature urban ecosystem marked by premium hotels, established office developments, and well-developed residential neighbourhoods, the company said.
{{/usCountry}}The acquisition highlights Sunteck Realty’s disciplined approach to identifying high-quality opportunities within Mumbai’s most competitive real estate markets. The site had been subject to long-standing land-level complexities/litigation spanning over a decade and involving multiple stakeholders, the company said in a statement.
Over the past 18 months, Sunteck has engaged individually with all concerned parties to resolve these issues, enabling the company to secure clear ownership and unlock the site’s development potential, it stated.
“At Sunteck, we are highly selective about where and how we deploy capital. This acquisition reflects our ability to identify high-potential opportunities and execute complex transactions involving multiple stakeholders, enabling us to create exponential value for the company and its stakeholders. In a high-demand location like Andheri East, where quality, branded supply remains limited, this site presents a strong opportunity to deliver a differentiated, value-accretive development,” said Kamal Khetan, chairman and managing director, Sunteck Realty Limited.
This transaction marks Sunteck Realty’s third strategic addition to its development portfolio in the current financial year, following a new acquisition in Mira Road and the securing of development rights for a society in Andheri East. The company follows a city-centric strategy, with a development portfolio of about 52.5 million sq ft across 32 projects, the company stated.