Sunteck Realty buys two-acre Andheri East land with ₹2,500 crore GDV

The company recently announced plans to launch the first phase of its ₹3,000 crore ultra-luxury residential project in Mumbai's Goregaon West, with the initial phase carrying a GDV of ₹1,250 crore

Sunteck Realty has acquired a two-acre land parcel in Mumbai’s Andheri East with an expected gross development value (GDV) of approximately Rs 2,500 crore.

 

The site had been subject to long-standing land-level litigation spanning over a decade and involving multiple stakeholders. The company, however, managed to secure clear ownership and unlock the site’s development potential.

 

Kamal Khetan, chairperson and managing director, Sunteck Realty, said, “At Sunteck, we are highly selective about where and how we deploy capital. This acquisition reflects our ability to identify high-potential opportunities and execute complex transactions involving multiple stakeholders, enabling us to create exponential value for the company and its stakeholders. Our well-timed capital allocation allows us to enter at compelling values and unlock long-term value.”

 

This transaction represents Sunteck Realty’s third addition to its development portfolio in the current financial year (FY26), following the new acquisition in Mira Road (Rs 1,200 crore of GDV) and securing development rights for a society in Andheri East (Rs 1,100 crore of GDV).

 

The company recently announced plans to launch the first phase of its Rs 3,000 crore ultra-luxury residential project in Mumbai’s Goregaon West, with the initial phase carrying a GDV of Rs 1,250 crore.

 

Andheri East remains an active housing market. In 2025, the micro market recorded 1,058 new sale transactions with a gross sales value of Rs 1,714 crore, as per Square Yards Data Intelligence. As of the fourth quarter of 2025, the average property rate in the area stood at Rs 32,736 per square foot, up from Rs 30,478 per square foot in the same quarter last year.

 

“In a high-demand location like Andheri East, where quality, branded supply remains limited, this site presents a strong opportunity to deliver a differentiated, value-accretive development,” Khetan added.

 

Additionally, Sunteck has 50 million square feet (msf) of portfolio spread across 32 developments in the Mumbai metropolitan region (MMR) and with a GDV of $5 billion. In the first half of FY26, the firm recorded pre-sales of Rs 1,359 crore across its MMR portfolio.