Sunteck Realty buys a land at Bandra Kurla Complex for commercial project

Bengaluru: Sunteck Realty Ltd has acquired a plot of land at Bandra Kurla Complex (BKC), a business district in Mumbai, where it plans to develop a premium commercial office project through a joint development model. The project with a development potential of about 2 lakh sq. ft is expected to generate about ₹ 500 crore revenue, the company said on Thursday.

Sunteck Realty is currently developing three luxury residential properties in BKC—Signature Island, Signia Pearl and Signia Isles—and is gearing up to launch another commercial project—Sunteck Centre II, at the BKC-Kalina Junction.

“Apart from outright acquisitions, we at Sunteck have tried to maximize the JV-JDA model for acquisitions that enables us to acquire land parcels at a low cost and come up with premium real estate developments on it. Going forward, we will continue to explore opportunities to acquire similar land parcels that will add value to the company,” said Kamal Khetan, chairman and managing director of Sunteck Realty Ltd.