Sunteck Realty to launch ₹3,000 crore ultra-luxury goregaon project

Mumbai-based Sunteck Realty plans to launch a Rs 3,000 crore ultra-luxury residential project in Mumbai’s Goregaon West with the initial phase carrying a gross development value (GDV) of Rs 1,250 crore.

 

The first phase has a total saleable area of 0.5 million square feet (msf) with about 225 three and four-bedroom residences, starting from 1,250 square feet, Kamal Khetan, chairperson and managing director, Sunteck Realty, told Business Standard.

 

The overall project will have a saleable area of 1 msf alongside which Sunteck is also undertaking a mixed‐use project with a leasable area of about 1.6 msf that will feature premium fine-dining options, cafés, retail and a commercial tower offering grade-A office spaces where the company aims to attract top-grade tenants, including multinational corporations, as a part of the firm’s strategy to enhance annuity income.

 

Sunteck’s rental revenue is expected to rise from Rs 70 crore in fiscal year 2025 (FY25) to Rs 320 crore and capital value from Rs 1,050 crore to Rs 5,000 crore by FY28-29.

 

For the first phase of the residential part, Sunteck is eying per square foot pricing of around Rs 36,000 and earnings before interest, taxes, depreciation, and amortisation (Ebitda) margin of around 40-45 per cent. Khetan stated that this project will be one of the most exclusive ultra-luxury residential addresses in Goregaon West

 

“The response is good, and we have already started to receive expressions of interest (EOI). With our unique ultra-luxury offerings, we want to disrupt the market. We are confident of premium pricing,” he added.

 

Sunteck aims to deliver the first phase of the residential project in the next three-four years, while commercial development will be completed in less than three years. The Mumbai-based firm aims to launch the second phase of the residential project in the next two years.

 

The company has previously delivered three projects in Goregaon West and has developed 8-9 acres out of 23 acres of land that it owns in this market. The latest project is planned on the company’s 3-acre land parcel.

 

Goregaon West remains a busy housing market. Between October 2024 and September 2025, it recorded 1,531 new sale transactions with a gross sales value of Rs 2,081 crore, as per Square Yards Data Intelligence. As of the third quarter of 2025, the average property rate in the area stood at Rs 35,353 per square foot, up from Rs 34,019 per square foot in the same quarter last year.

 

The Goregaon launch follows the company’s recent international expansion into Dubai and its invite-only luxury real estate lifestyle brand – Emaance. In November 2025, the company entered Dubai with an ultra-luxury project pipeline of AED 15 billion over the next three years, beginning with a residential project in Downtown Dubai, with a gross development value (GDV) of AED 5 billion.

 

In September 2025, Sunteck launched Emaance, under which projects worth Rs 20,000 crore, priced at Rs 2.5 lakh per square foot with each apartment spanning around 10,000 square feet, are planned over the next one year.  

 

Founded in 2000, promoted by the Khetan family, Sunteck has 50 msf of portfolio spread across 32 developments in the Mumbai metropolitan region (MMR) and with a GDV of USD 5 billion.

 

Earlier, in the first half of FY26, the firm recorded pre-sales of Rs 1,359 crore across its MMR portfolio. Its residential portfolio had a GDV of Rs 39,100 crore, as of H1 FY26.