Sunteck Signs JDA For Mixed Use Project With Revenue Potential of Rs 2,500 Cr
New Delhi: Mumbai-based Sunteck Realty has taken over a project in Andheri with potential for development of about 1.1 million sq ft of saleable area having potential to generate a revenue of Rs 2,500 crore in the next 4-5 years, it said in a statement.
The project has been acquired after Sunteck signed Joint Development Agreement (JDA) with Transcon Enterprises and its group entities. It will be a mixed use project having residential, commercial and retail development.
"During a time of consolidation in the industry, this acquisition gives us a significant edge by expanding our portfolio and footprint in the MMR,” said Kamal Khetan, Chairman and Managing Director, Sunteck Realty Ltd.