Webinar :Register now for webinar on 'Trade BankNifty in just 15 minutes a day' - By Asmita Patel
Last Updated : | Source: Moneycontrol.com

Sunteck Realty to acquire approximately 50 acres in Vasind suburb for residential development

The project has a revenue generation of Rs. 1,250 crore envisaged for next 4-5 years

Luxury real estate developer Sunteck Realty Ltd has entered into an agreement to acquire approximately 50-acre land parcel in the emerging micro market Vasind in Thane district that has a revenue potential of Rs 1250 crore spanning over the next four to five years.

The project will be developed into an approximately 2.6 mn sq ft integrated township. It will be largely residential, catering to the affordable segment, the company said.

“The second strategic acquisition amidst the pandemic complements our strategy to strengthen our brand presence. Our Vasind acquisition reflects our differentiated development philosophy of focusing on strategic locations along the growth vector,” said Kamal Khetan, chairman and managing director of Sunteck Realty Ltd.

Close

“The project will be largely residential, catering to the affordable segment. With the ongoing Covid-19 scenario, I believe our upcoming projects will continue to fulfill the emerging customer needs: residential premises that complements today’s lifestyle and suit the requirements for work-from-home,” he said.

COVID-19 Vaccine

Frequently Asked Questions

View more
How does a vaccine work?

A vaccine works by mimicking a natural infection. A vaccine not only induces immune response to protect people from any future COVID-19 infection, but also helps quickly build herd immunity to put an end to the pandemic. Herd immunity occurs when a sufficient percentage of a population becomes immune to a disease, making the spread of disease from person to person unlikely. The good news is that SARS-CoV-2 virus has been fairly stable, which increases the viability of a vaccine.

How many types of vaccines are there?

There are broadly four types of vaccine — one, a vaccine based on the whole virus (this could be either inactivated, or an attenuated [weakened] virus vaccine); two, a non-replicating viral vector vaccine that uses a benign virus as vector that carries the antigen of SARS-CoV; three, nucleic-acid vaccines that have genetic material like DNA and RNA of antigens like spike protein given to a person, helping human cells decode genetic material and produce the vaccine; and four, protein subunit vaccine wherein the recombinant proteins of SARS-COV-2 along with an adjuvant (booster) is given as a vaccine.

What does it take to develop a vaccine of this kind?

Vaccine development is a long, complex process. Unlike drugs that are given to people with a diseased, vaccines are given to healthy people and also vulnerable sections such as children, pregnant women and the elderly. So rigorous tests are compulsory. History says that the fastest time it took to develop a vaccine is five years, but it usually takes double or sometimes triple that time.

View more
Show

The project offers locational connectivity, being strategically placed near the railway station as well as located along the NH3 with access to key social and civic infrastructure in the area.

The project will be a key addition to Sunteck’s brand ‘SunteckWorld’ that boasts of Naigaon’s mega project success of Phase 1 Sunteck WestWorld and Phase 2 Sunteck MaxXWorld to its credit.

Sunteck Realty Limited (SRL) is a Mumbai-based luxury real estate development company The company focuses on a city centric development portfolio of about 35 million square feet spread across 26 projects.

It has differentiated its projects under five brands - ‘Signature’: Uber luxury residences, ‘Signia’: Ultra luxury residences, ‘Sunteck City’: Premium luxury residences, ‘Sunteck World’: Aspirational luxury residences, ‘Sunteck’: Commercial and Retail developments.

Some of its flagship projects include Signature Island at Bandra Kurla Complex (BKC), Sunteck City in Oshiwara District Centre (ODC), Goregaon and SunteckWorld at Naigaon - the largest township of MMR’s western Suburbs.
First Published on Oct 20, 2020 12:26 pm
Sections