Arvind SmartSpaces Limited (ASL), has signed an agreement for its first horizontal multi-use project in Mumbai Metropolitan Region (MMR), with a total estimated area of about 92 acre and a top-line potential of an estimated ₹1,500 crore.
Located near Khopoli, Mumbai 3.0, the project is signed under joint development model (70.5 per cent Revenue share) enabling low capital intensity and higher returns. Sach Developers are the land partners on this project.
Commenting on this development, Kamal Singal, Managing Director and CEO, Arvind Smartspaces said, “We are happy to announce our entry into the Mumbai real estate market, marking a significant milestone in our growth journey. We are confident of the large opportunity the MMR plotted/villa market presents and look forward to bringing our horizontal value proposition there. Entering MMR reinforces our strategy of balanced geographic diversification across Gujarat, Karnataka and Maharashtra. We look forward to delivering a landmark project in Mumbai that resonates with our brand values of design, quality, and value creation. This project will play a seminal role in ASL’s MMR journey as well as the region’s horizontal development landscape.”
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The project is envisaged to be the first large-scale horizontal project in the vicinity with amenities likely to include a golf course and a large clubhouse. Contemporary horizontal development effectively addresses the desire for smart, secure, luxurious living while also fostering a sense of community. Key features of this development shall include a deep focus on design, modern amenities, uncrowded recreational facilities, premium customisations and vast green landscapes – all conforming to the buyers’ emerging need to pursue a superior lifestyle.