Sunteck sharpens ₹5,000-cr real estate plans

Realty developer Sunteck Realty has decided to invest ₹5,000 crore in building commercial properties, including offices and retail, said an official spokesperson. He informed that about ₹2,000 crore will be used to build commercial and retail realty projects spread over 3 million sq ft in Oshiwara District Centre (ODC), which is the new planned development by the state government in line with the central business district of Bandra-Kurla Complex (BKC). The company is building another 1 million sq ft office space in and around BKC in addition to 0.5 million sq ft two office blocks. The proposed investment encompasses all of these projects, including 1 million sq ft in the western suburb of Naigaon, CMD Kamal Khetan said. MMRDA has demarcated 160-acre land for setting up the business district Oshiwara Business Center in Mumbai‘s western suburb of Goregaon, along the lines of BKC. Sunteck‘s entire 23 acre development in ODC will be completed in 3-4 years.