Sunteck Realty Bags INR 1,100 Cr Housing Society Redevelopment Project in Andheri

Sunteck Realty has been officially appointed as the developer for a major housing society redevelopment project in Andheri (East), Mumbai. The project carries an impressive gross development value (GDV) of INR 1,100 crore, further establishing Sunteck’s footprint in Mumbai’s fast-evolving residential landscape.

Strategic Location Near Key Mumbai Artery

Spanning approximately 2.5 acres, the land is located strategically near the Western Express Highway (WEH), one of Mumbai’s most vital transport corridors. This location advantage will significantly enhance the connectivity and value proposition of the project, making it a promising offering for future homeowners and investors alike.

Free Sale Area to Boost Revenue Potential

After accommodating the rehabilitation of existing tenants, Sunteck Realty expects to generate approximately 2.75 lakh sq. ft. of free sale area. This section of the development will allow the company to tap into the demand for quality residences in a premium micro-market while ensuring long-term revenue generation.

Fast-Tracked Timeline with Focus on Efficiency

The redevelopment project is scheduled to be completed within three to four years, from the start of construction to the final handover to the society members. The entire execution will be managed through a wholly-owned subsidiary of Sunteck Realty, ensuring streamlined operations and full control over project timelines and standards.

Funded Entirely Through Internal Accruals

Sunteck Realty has confirmed that the entire project will be funded through internal accruals, showcasing the company’s robust financial health and strategic use of resources. This funding strategy underlines the developer’s confidence in the project’s viability and profitability without relying on external debt or funding.

A Strategic Move in Mumbai’s Redevelopment Wave

Mumbai continues to witness a significant push in housing society redevelopment, particularly in well-established suburbs like Andheri. Sunteck’s participation in this segment reflects its broader strategy to leverage existing urban spaces and convert them into modern, premium living environments, aligned with the aspirations of Mumbai’s upwardly mobile residents.

Key Highlights – Sunteck Realty’s Redevelopment Project in Andheri East

• Developer Appointed: Sunteck Realty to redevelop a housing society in Andheri East, Mumbai.

• Project Value: Estimated gross development value (GDV) of INR 1,100 crore.

• Land Size: Approximately 2.5 acres, located near Western Express Highway.

• Free Sale Area: Around 2.75 lakh sq. ft., post tenant rehabilitation.

• Timeline: Expected completion in 3–4 years.

• Execution Model: Project to be carried out through a wholly-owned subsidiary.

• Funding: Entirely self-funded via internal accruals, with no external debt.

• Strategic Impact: Strengthens Sunteck Realty’s portfolio in Mumbai’s redevelopment ecosystem.

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