Suraj Estate Developers announced that they had acquired a freehold plot of land measuring approximately 1,073.42 square metres located off Lady Jamshedji Road, Mahim (West), Mumbai, for a total cost of Rs 330.10 million. The project was described as a redevelopment venture involving seven tenants/occupants who had vacated their respective premises, resulting in the plot being vacant.
It was mentioned that after deducting the Floor Space Index (FSI) required for rehabilitating the tenants/occupants and allocating surplus area to MHADA, the estimated remaining carpet area available for sale was about 2,787 square metres (30,000 sq ft), with a Gross Development Value (GDV) of Rs 1.20 billion.
