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Suraj Estate Developers Limited, a prominent South Central Mumbai-based real estate firm, has acquired a land parcel at N.M. Joshi Marg, Lower Parel, for INR 6.44 crores, inclusive of registration and stamp duty. The plot will be merged with its adjoining Ambavat Bhavan project to form a consolidated land bank, enabling a premium residential development with an estimated GDV of INR 130 crores. Positioned under DCPR 33(7), the scheme will feature optimised layouts, enhanced frontage, and extensive parking, catering to the value-luxury housing demand in Mumbai's Lower Parel micro-market.
Suraj Estate Developers Limited has completed the acquisition of a 644 sq. metres land parcel, identified as CS No. 178 (RK Mansion), at N.M. Joshi Marg, Lower Parel. The deal, valued at INR 6.44 crores inclusive of stamp duty and registration fees, will be integrated into the firm's adjacent Ambavat Bhavan project. Post-merger, the development will span a consolidated 1,310 sq. metres and is expected to offer a saleable carpet area of 0.32 lakh sq. ft., with a projected gross development value of INR 130 crores. Advertisement
The combined project is proposed to introduce premium one- and two-bedroom apartments in the value-luxury segment. Planned under regulation 33(7) of DCPR 2034, the scheme will deliver optimised layouts, wider frontage, and enhanced parking provisions. Its location ensures excellent connectivity through Western and Central railway lines, the Monorail, the Eastern Freeway, and the Mumbai Coastal Road. Proximity to healthcare facilities, retail destinations, entertainment hubs, and commercial centres across Lower Parel, Worli, and Prabhadevi further strengthens its appeal.
Commenting on the acquisition, Rahul Thomas, Promoter and Whole-Time Director of Suraj Estate Developers Limited, stated that the purchase reinforced the company's presence in South Central Mumbai's value-luxury housing category. He explained that integrating the land with Ambavat Bhavan would create a landmark residential development combining superior design, premium amenities, and sustainable value for homebuyers.
Established in 1986, Suraj Estate Developers has played a significant role in shaping South Central Mumbai's residential and commercial landscape. Its expertise lies in value-luxury, luxury, and commercial developments, with a strong focus on redevelopment projects under DCPR 33(7). With limited land availability in this belt, the developer's core strength has been in negotiating with tenants and executing settlements to unlock redevelopment potential in dense neighbourhoods. The company's portfolio strategy focuses on targeting both cessed and non-cessed buildings through development agreements and outright purchases.
To date, the firm has delivered 45 projects, collectively accounting for 16.09 lakh sq. ft. of developed area. It currently has 10 ongoing projects covering 4.7 lakh sq. ft. of saleable carpet area under RERA, alongside 19 upcoming projects totalling around 12.2 lakh sq. ft. The company continues to maintain its position as a trusted developer in micro-markets such as Dadar, Mahim, Prabhadevi, and Lower Parel, while also expanding into Bandra.
By merging the plot with the Ambavat Bhavan project, the developer is creating a larger residential scheme aligned with its focus on urban renewal under DCPR 33(7). With its strong delivery record and pipeline of upcoming projects, Suraj Estate Developers continues to consolidate its presence in South Central Mumbai while extending into newer markets such as Bandra, thereby reinforcing its growth trajectory in the city's competitive real estate landscape.
Source - PTI
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