February o6, 2024: Real estate developers Shapoorji Pallonji Real Estate in collaboration with Vakratunda Buildcon will launch its new premium housing project in Mumbai’s upscale, Bandra East. The company has raised Rs 55 crore for the luxury project and expects to generate revenue to the tune of Rs 250 crore.
“The WSBREDF-II fund has committed an investment of Rs 55 crore to complete the premium project, BKC 9. This underscores the fund’s commitment to nurturing innovative and high-quality real estate ventures. Following the Rs 75 crore investment in BKC 28 in 2022, which achieved sales of approximately Rs 200 crore, the collaboration aims to replicate its success in the burgeoning real estate market,” the company said in a statement.
Set on a 0.41-acre plot, the project named Named BKC 9 will offer 92 apartments, featuring a diverse range of 2BHK and 3BHK. The price of the apartments starts at Rs 2.11 crore. The project holds immense appeal for professionals seeking a perfect blend of modern living and convenience, the company said.
“Located at Bandra East, BKC 9 enjoys excellent connectivity to the commercial hub of BKC, the Western Express Highway, the Bandra-Worli Sea Link, the Mumbai International Airport and an upcoming metro station. Standing 20 floors tall, BKC 9 features a range of amenities, including a swimming pool, banquet hall, gymnasium, and Vastu-friendly apartments, surrounded by a well-established social and civic infrastructure, including renowned educational institutions, healthcare facilities and entertainment zones like Jio World Drive,” the company said.
Commenting on the launch, Nirav Dalal, business head and chief investment officer, Shapoorji Pallonji Real Estate, stated, “In the wake of BKC 28’s success, the launch of BKC 9 is a strategic move to meet the escalating demand for high-quality residences. Our collaboration with WSB Partners reinforces our dedication to delivering innovative and top-tier developments that redefine the standards of residential living…the launch of BKC 9 signifies our continuous effort to provide a contemporary lifestyle in Bandra East, one of Mumbai’s prime locations.”
Vinit Prabhugaonkar, managing partner WSB Partners, said, “The launch of BKC 9 marks another significant milestone in our ongoing collaboration with Shapoorji Pallonji Real Estate and Vakratunda Group. We are confident that this partnership will replicate the success of our previous collaboration with them. We trust the group’s ability to develop high-quality residential projects such as BKC 9 and BKC 28.”
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An alumna of the Indian Institute of Mass Communication, Dhenkanal, Sunita Mishra brings over 16 years of expertise to the fields of legal matters, financial insights, and property market trends. Recognised for her ability to elucidate complex topics, her articles serve as a go-to resource for home buyers navigating intricate subjects. Through her extensive career, she has been associated with esteemed organisations like the Financial Express, Hindustan Times, Network18, All India Radio, and Business Standard.
In addition to her professional accomplishments, Sunita holds an MA degree in Sanskrit, with a specialisation in Indian Philosophy, from Delhi University. Outside of her work schedule, she likes to unwind by practising Yoga, and pursues her passion for travel.
sunita.mishra@proptiger.com
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