Mumbai, 26th August, 2025 – Suraj Estate Developers Limited (BSE: 544054 | NSE: SURAJEST), a leading real estate developer in South Central Mumbai, has acquired a prime 644 sq. meters land parcel (CS No. 178, also known as RK Mansion) at N.M. Joshi Marg, Lower Parel, Mumbai, for a total consideration of ₹6.44 crores inclusive of stamp duty and registration charges. This acquisition is proposed to merge with the adjacent upcoming project – Ambavat Bhavan, resulting in a consolidated land parcel of 1,310 sq. meters and a combined estimated saleable carpet area of 0.32 lakh sq. ft., with a projected GDV of ₹130 crores. The amalgamation envisions the development of premium 1 and 2 BHK residential apartments in the value-luxury segment.
The project is being developed under regulation 33(7) of DCPR 2034, will feature optimised layouts, wider frontage and ample parking, delivering an exceptional living experience in Mumbai’s thriving Lower Parel micro market. Strategically located, the project offers unmatched access via Western and Central railway lines, the Monorail, Eastern Freeway and Mumbai Coastal Road. Residents will enjoy proximity to top-tier healthcare, retail and entertainment, along with vibrant commercial hubs in Lower Parel, Worli and Prabhadevi.
Commenting on the acquisition, Mr. Rahul Thomas, Promoter and Whole-Time Director of Suraj Estate Developers Limited, said, “This acquisition will strengthen our presence in the South-Central Mumbai’s value-luxury segment. By integrating this land parcel with our upcoming Ambavat Bhavan project, we are creating a landmark development that blends superior design, premium amenities and sustainable value for our customers.”
Suraj Estate Developers continues to consolidate its position as a trusted developer in South Central Mumbai with a strong portfolio of value-luxury, luxury and commercial projects across key micro-markets of Dadar, Mahim, Prabhadevi, and Lower Parel.
About Suraj Estate Developers:
Suraj Estate Developers has been a prominent player in the real estate sector since 1986, with a strong focus on residential and commercial development in the South-Central Mumbai region. The company has firmly established its presence in key micro-markets such as Mahim, Dadar, Prabhadevi, and Parel, and is now expanding into the Bandra sub-market.
Specialising in value luxury, luxury, and commercial segments, Suraj Estate Developers has built strong expertise in redeveloping tenanted properties under DCPR 33(7)—a key redevelopment model in South-Central Mumbai. With limited land availability in this region, the company’s core strength lies in tenant negotiation and settlement, enabling it to unlock value in densely populated areas. Suraj strategically targets cessed and non-cessed buildings with existing tenants, partnering with landlords through development agreements or outright purchases to drive high-value urban transformation.
Since inception, the company has successfully delivered 45 projects totaling over 16.09 lakh square feet of developed area. Currently, it has 10 ongoing projects with a total RERA saleable carpet area of 4.7 lakh square feet, and 19 upcoming projects with an estimated saleable carpet area of ~ 12.2 lakh square feet.
For more information, visit: www.surajestate.com
Safe Harbor:
Statements in this document relating to future status, events, or circumstances, including but not limited to statements about plans and objectives, the progress and results of research and development, potential project characteristics, project potential and target dates for project related issues are forward-looking statements based on estimates and the anticipated effects of future events on current and developing circumstances. Such statements are subject to numerous risks and uncertainties and are not necessarily predictive of future results. Actual results may differ materially from those anticipated in the forward-looking statements. The company assumes no obligation to update forward-looking statements to reflect actual results changed assumptions or other factors.
