Track2Realty: Satra Group has announced an initial investment of Rs 1000 crore towards developing real estate in Mumbai. Praful Satra, CMD of Satra Group says the expansion plan for the next 5 years includes developing of a total of 4 mn sqft, delivering more than 1,000 residential units of residential and commercial space.
With the increasing demand for luxury housing in South and Western Mumbai, the company has launched its ultra-luxurious residential project ‘Limited Edition 88’ near Bandra-Worli Sea Link, involving an investment to the tune of Rs 250 crore. The building is slated to serve 81 distinguished families on completion.
Located in the heart of the Mumbai suburb, Bandra, ‘LE88’ is a 26-storey marvelous edifice of excellence comprising of 4 BHK apartments ranging from 382 sq. meters (4116 sq ft) to 405 sq meters (4364 sq ft). It has the potential to generate revenue of about Rs 550 crore over a period of 2-3 years on consolidation basis.
Satra said, “We are extremely happy to add a new project in the heart of the city. It shall be our endeavor to deliver LE88 as a winning combination in terms of quality of the property, amenities and pricing. As a part of our strategy to expand and grow, we look forward to additional future opportunities with our other planned projects offering affordable residential flats in premium locations in Mumbai. We are expecting these projects to deliver revenue of about Rs 2,500 crore over a horizon period of 4 to 6 years on consolidation basis.”
“In the upcoming years, our focus is on maximizing the wealth of our shareholders, reduce finance costs, enhance employee productivity and increase innovation.” he added.
The project, overlooking mesmerizing views of the Arabian Sea, offers lifestyle amenities like a modern club house, gymnasium, Jacuzzi, a swimming pool with landscaped jogging track and modern security concepts like bio-metric access and central monitoring system along with many more features. LE88 is very international in style and scale; with interiors of the project designed by internationally acclaimed HBA, Singapore and sample flats conceptualized and designed by Gauri Khan. The aforementioned project is being developed as a joint venture with Pyramid Developers.
