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Sunteck Realty acquires 110 acre riverfront land at Pen-Khopoli

Monday, 18 Oct 2021
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Sunteck Realty will enter the highly lucrative second home space with the acquisition of approximately 110 acre on the Pen-Khopoli Road in Maharashtra under the asset light JDA strategy.

The project has a prominent river frontage. This land will be used for plotted and luxurious bungalows development. It has direct access to Pen-Khopoli main road and is located close to Pen city.   
Sunteck Realty has been one of the largest acquirers of projects over the last 18 months, strengthening its presence in the MMR market as well as its credentials as one of the fastest growing real estate companies in India.

Some of the recent acquisitions under the asset light JDA model include a marquee approximately 50 acre land parcel at Shahad (Kalyan) with potential to develop 10 million sq ft of integrated residential township with a revenue generation of approximately Rs 9,000 crore.

An approximately 50 acre in the superior sea-view location of Vasai (West) having a development potential of approx. 4.5 million sq ft and a revenue potential of around Rs 5,000 crore, a large development of 2.6 million sq ft at Vasind and the waterfront luxury residences at Borivali (West) having a revenue potential of around Rs 1,800 crore, all totaling to approximately 18 million sq ft.

This new acquisition further adds four to five million sq ft of development potential to the existing portfolio.

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