Ashwin Sheth Group has acquired the development right of a 4-acre land parcel in Mumbai to build a housing project with revenue potential of Rs 3,800 crore.
The upcoming project, located in Goregaon West, will have a Gross Development Value (GDV) of Rs 3,800 crore, the company said in a statement on Friday.
The project will offer about 12 lakh square feet of RERA carpet area.
Ashwin Sheth, Chairman and Managing Director of Ashwin Sheth Group, said, "This strategic acquisition from Maharashtra Housing And Area Development Authority (MHADA) represents a milestone in our expansion strategy.
"Goregaon West has emerged as one of Mumbai's most promising residential destinations...".
Ashwin Sheth Group has developed more than 38 million Sq Ft of assets so far and over 7 million sq ft area are currently under construction.
