Raheja launches two redeveloped Mumbai projects
Dec 26 2013
Gurukripa is located in Kalina and Nataraj Residencies in Khar. With these projects, S Raheja Realty is seeking to capitalise on the boom in redevelopment as a part of its strategy. .
Natraj Residences, spread across 25,000 sq ft, houses 12 apartments (one on each floor) and a penthouse. These will be signature-styled 4BHK luxury homes, said Ram Raheja, director and head, S Raheja. The price of the project starts from Rs 10 crore.
Gurukripa, located in the bustling Santacruz area, which has an easy accessibility to the highway and Sea Link, is spread over 30,000 sq ft. The affluent residency comprises two and three bedroom apartments with landscaped terrace garden for each. The project will house 15 new flats in addition to the existing 20 tenants. Each of the flat promises the best amenities in terms of flooring and bathroom fittings as well as a club house, Raheja said. Prices here start from Rs 2 to Rs 3 crore.
“Having identified the potential of redevelopment projects in the city, we launched Gurukripa and Natraj to offer luxury lifestyles to buyers. With our projects, we envision creating a remarkable difference in the Indian real estate landscape by pioneering new lifestyle concepts, leveraging cutting edge technology and creating insightful designs,” Raheja added.
More than 5,000 buildings in Mumbai suburbs need to be re-developed due to lack of land and rising property prices. Redevelopment is the best option in populated cities like Mumbai as it enables access to land in prime markets without huge upfront investment and also generates interests and investments by private equity firms, the company said in a statement.
Mumbai-based S Raheja Realty is a premier real estate developer in the country, with a focus on luxury residential and commercial projects. In the past they have also ventured into affordable housing.