Suraj Estate Developers has acquired a 644 sq. mtrs. land parcel at NM Joshi Marg, Lower Parel, Mumbai, for Rs 6.44 crore.

This newly acquired plot will be merged with the adjacent upcoming project, Ambavat Bhavan, creating a consolidated land parcel of 1,310 sq. mtrs. The combined development is expected to deliver a saleable carpet area of 0.32 lakh sq. ft. and generate a gross development value (GDV) of Rs 130 crore.

The integrated project will feature premium one-BHK and two-BHK residential apartments in the value-luxury segment. It is planned with optimized layouts, wide frontage, and ample parking, while benefiting from Lower Parel’s connectivity via road, rail, and coastal links. Residents will have easy access to healthcare, retail, entertainment, and key commercial hubs across Lower Parel, Worli, and Prabhadevi.

Rahul Thomas, promoter and whole-time director of Suraj Estate Developers, said, “This acquisition will strengthen our presence in the South-Central Mumbai’s value-luxury segment.” Founded in 1986, Suraj Estate has a strong residential portfolio in Mahim, Dadar, Prabhadevi, and Parel.