Suraj Estate Developers Ltd acquires adjacent land parcel to its upcoming project - Ambavat Bhavan in Lower Parel

Suraj Estate Developers Limited (BSE: 544054 | NSE: SURAJEST), a leading real estate developer in South Central Mumbai, has acquired a prime 644 sq. meters land parcel (CS No. 178, also known as RK Mansion) at N.M. Joshi Marg, Lower Parel, Mumbai, for a total consideration of ₹6.44 crores inclusive of stamp duty and registration charges. This acquisition is proposed to merge with the adjacent upcoming project - Ambavat Bhavan, resulting in a consolidated land parcel of 1,310 sq. meters and a combined estimated saleable carpet area of 0.32 lakh sq. ft., with a projected GDV of ₹130 crores. The amalgamation envisions the development of premium 1 and 2 BHK residential apartments in the value-luxury segment.

The project is being developed under regulation 33(7) of DPCR 2034, will feature optimised layouts, wider frontage and ample parking, delivering an exceptional living experience in Mumbai's thriving Lower Parel micro market. Strategically located, the project offers unmatched access via Western and Central railway lines, the Monorail, Eastern Freeway and Mumbai Coastal Road. Residents will enjoy proximity to top-tier healthcare, retail and entertainment, along with vibrant commercial hubs in Lower Parel, Worli and Prabhadevi.

Commenting on the acquisition, Mr. Rahul Thomas, Promoter and Whole-Time Director of Suraj Estate Developers Limited, said, "This acquisition will strengthen our presence in the South-Central Mumbai's valueluxury segment. By integrating this land parcel with our upcoming Ambavat Bhavan project, we are creating a landmark development that blends superior design, premium amenities and sustainable value for our customers."

Suraj Estate Developers continues to consolidate its position as a trusted developer in South Central Mumbai with a strong porƞolio of value-luxury, luxury and commercial projects across key micro-markets of Dadar, Mahim, Prabhadevi, and Lower Parel.

Shares of Suraj Estate Developers Limited was last trading in BSE at Rs. 324.25 as compared to the previous close of Rs. 318.55. The total number of shares traded during the day was 15544 in over 781 trades.

The stock hit an intraday high of Rs. 336.10 and intraday low of 319.35. The net turnover during the day was Rs. 5086410.00.

Source : Equity Bulls

Keywords

SurajEstateDevelopers Residential Commercial INE843S01025 PrimeLand LowerParel UpcomingProject AmbavatBhavan