Date: September 25, 2026
Acquisition Details
Suraj Estate Developers Limited's wholly owned subsidiary, Iconic Property Developers Private Limited, has completed the acquisition of development rights for a plot of land at Mahim (West), Mumbai.
- Location: Mahim (West), Mumbai, contiguous to the company's ongoing commercial project "Suraj One Business Bay"
- Land Area: Approximately 2,941 square metres
- Investment Amount: ₹82.72 Crores total investment
- Legal Documentation: Development Agreement has been duly registered
Project Development Potential
- Additional Saleable Carpet Area: Approximately 1.50 lakh square feet
- Estimated Gross Development Value (GDV): Approximately ₹800 Crores
- Strategic Location: Established micromarket with strong demand fundamentals, excellent connectivity, and proximity to key commercial districts (Lower Parel, Worli, and Bandra Kurla Complex)
Strategic Impact
The acquisition is expected to:
- Strengthen the company's near-to-medium-term project pipeline
- Consolidate the company's presence in the South-Central Mumbai market
- Enhance the company's core market position