Acquisitions31 May 2026, 10:00 pm
Suraj Estate Developers acquires ₹800 Cr GDV project rights
AI Summary
Suraj Estate Developers Ltd, through its subsidiary Iconic Property Developers Private Limited, has acquired development rights for a prime land in Mahim (West) for ₹75.00 crores. The plot, contiguous to Suraj One Business Bay, is expected to generate an additional 1.50 lakh square feet of saleable carpet area with an estimated GDV of ₹800 crores. This acquisition will expand the company’s commercial footprint in South Central Mumbai and is expected to strengthen the company’s near-to-medium term project pipeline.
Key Highlights
- Suraj Estate acquires development rights in Mahim (West).
- Project has a Gross Development Value (GDV) of ₹800 crores.
- Acquisition cost is ₹75.00 crores.
- The project will add 1.50 lakh sq ft of saleable area.
- Combined GDV of Suraj One Business Bay will exceed ₹2,000 crores.