The company will develop a premium residential project there.
Sushma Group is a real estate firm based in Chandigarh.
Analysts of IIFL Capital Services believe negative impact of the budget announcements on the real estate sector.
Due to the scarcity of vacant land parcels, particularly on the island, Mumbai has few opportunities for greenfield development.
The site is strategically located between the Grand South Trunk Road (GST road) and the NH-4.
Mirae Asset has made its first acquisition in the logistics sector, purchasing a facility with over 300,000 sq ft of leasable space.
Since Celeste's launch in October 2022, the company has sold 870 homes with a booking value of approximately Rs435 crore.
Credit rating limits for bank facilities worth Rs4,500 crore has been reaffirmed at ICRA AA+/ICRA A1+.
The average property rate increased 13.9% year on year.
The project will have an estimated revenue potential of approximately Rs2,500 crore.
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