en.Wedoany.com Reported - Suraj Estate Developers Limited has completed a land transaction in the G/North Ward of Dadar (West), Mumbai, with an initial acquisition cost of ₹85.3 million and a total acquisition cost of approximately ₹180 million. The land parcel is situated in a mature micro-market in South Central Mumbai, offering a stable demand base, convenient transport connectivity, and proximity to business districts such as Lower Parel, Worli, and Bandra Kurla Complex.
Post this land transaction, the company plans to develop approximately 0.018 million square feet (approx. 18,000 sq. ft.) of saleable carpet area, targeting the premium luxury and luxury residential market. The proposed project has an estimated Gross Development Value (GDV) of around ₹1 billion, which is expected to enhance medium-to-short-term revenue visibility. The company's management has described this land acquisition as a strategic addition that strengthens its presence in its core operational market.
Suraj Estate Developers Limited focuses on the redevelopment of leasehold properties in the South Central region, unlocking land value through tenant rehabilitation, development agreements, or direct purchase. Since its inception, the company has completed 45 projects, developing 1.609 million square feet of area in South Central Mumbai. It currently has 13 ongoing projects under execution, with a developable area of 2.354 million square feet and a saleable RERA carpet area of 0.755 million square feet.
The project pipeline includes 18 upcoming projects with an estimated saleable carpet area of 1.212 million square feet, which, combined with the Dadar land transaction, will further expand the portfolio. The company stated that while evaluating other opportunities aligned with its strategic vision, disciplined growth, selective acquisitions, and efficient execution will remain priorities.
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