Sunteck Realty Signs New JDA for 3.5-Acre Mira Road Land Parcel, Targets ₹1,200 Crore GDV
Sunteck Enters Mira Road via Joint Development Agreement
On July 23, Sunteck Realty Ltd confirmed it had signed a joint development agreement to develop a land parcel in Mira Road, located along the Western Express Highway. The project is expected to have a gross development value (GDV) of ₹1,200 crore.
The land parcel is located alongside the Western Express Highway and offers a development potential of around 5.5 lakh square feet of RERA carpet area. The plot measures around 3.5 acres, or nearly 13,500 square metres, and sits in a neighbourhood with proximity to reputed educational institutions, healthcare centres, retail hubs, and green belts.
Strengthening Sunteck's Presence in a Fast-Emerging Market
The developer already has a premium-luxury project, Sunteck SkyPark, in the area, which has recorded sales of more than ₹1,000 crore. This JDA represents a deliberate expansion within the same micro-market, following the company's founding in 2000 by Mr. Kamal Khetan, with a current portfolio of about 50 million square feet spread across 32 projects.
Sunteck Realty differentiates its projects under six brand portfolios—Uber luxury residences, Ultra luxury residences, Premium luxury residences, Marquee Luxury Destination, Aspirational luxury residences, and Commercial & Retail developments. This Mira Road project aligns with the company's positioning in the premium-luxury segment.
Infrastructure and Connectivity
The new site is close to the upcoming Miragaon Metro Station, which falls on Metro Line 9, and is also near both Dahisar and Mira Road railway stations. The Western Express Highway connects the locality to the western suburbs and important business hubs such as Bandra Kurla Complex (BKC), SEEPZ and Lower Parel.
Mira Road has emerged as an emerging alternative for those unable to buy a house within Mumbai because of unaffordable property rates yet wanting to stay connected to the city. The locality benefits from well-developed infrastructure and infrastructure projects in the pipeline, including a new sewage treatment plant and the operational Mahim-Mira Road Bus Corridor, a part of the Bus Rapid Transit System (BRTS).
Strategic Rationale and Recent Activity
Kamal Khetan, chairman and managing director of Sunteck Realty, stated that the JDA "reinforces our commitment to expanding in high-potential growth corridors of MMR," noting that "Mira Road, with its robust infrastructure pipeline and superior connectivity, offers an ideal canvas for creating a landmark luxury residential development."
The announcement comes as Sunteck accelerates its portfolio expansion across the Mumbai Metropolitan Region. Earlier in May, the company was appointed as the developer for the redevelopment of a housing society in Mumbai's Andheri (East), with a GDV estimated at ₹1,100 crore. In Q1 FY26, the Mumbai-based firm reported a 46.75 per cent year-on-year increase in net profit to ₹33.43 crore, compared to ₹22.78 crore in Q1 FY25.