Listed real estate developer Sunteck Realty has entered into a joint development agreement to execute a mixed-use residential project of 2.5 million square meters on a 7.25 hectare plot in Mira Road near Mumbai.
The project is estimated to have a total revenue potential of Rs 30 billion. The company has entered into a revenue-sharing alliance with a local real estate developer for this Mira Road lot in Beverly Park.
As part of the project, which will be implemented in phases, the company plans to develop luxury high-rise housing along with a certain part as a retail component.