NEW DELHI: Arvind SmartSpaces (ASL) has signed an agreement for a multi-use project in Mumbai Metropolitan Region (MMR), with a total estimated area of 92 acre and a top-line potential of about Rs 1,500 crore.
This project is located near Khopoli and is signed under joint development model (70.5% revenue share). Sach Developers, are the land partners on this project.
Kamal Singal, managing director and CEO if the company said, “We are happy to announce our entry into the Mumbai real estate market. We are confident of the large opportunity the MMR plotted/villa market presents and look forward to bring our horizontal value proposition there.”
With this acquisition, the cumulative new business development topline potential stands at Rs 2,500 crore for the current year to date.
JLL India was the land transaction advisor on this project.
In October 2024, the company had entered into a joint development agreement for a residential project along ITPL Road, Bengaluru. The project has a total estimated saleable area of 4.2 lakh sq ft and a top-line potential of Rs 600 crore.
