Sunteck Realty Ltd has announced the launch of a new high-end residential project on Mira Road, a rapidly urbanizing corridor within the Mumbai Metropolitan Region (MMR). The project will be developed under a joint development agreement (JDA) and spans approximately 3.5 acres of land with direct frontage on the Western Express Highway.
The development marks Sunteck Realty’s continued strategy of targeting high-potential growth corridors in MMR. Planned over a development area of about 13,500 square meters, the project is expected to deliver approximately 5.5 lakh square feet of carpet area. The Gross Development Value (GDV) is estimated at ₹1,200 crore, signaling the company’s intent to position the offering at the upper end of the residential market.
According to the company’s chairman and managing director, the Mira Road initiative aims to create a landmark luxury housing development. Drawing parallels with previous successful projects such as Sunteck SkyPark, the company plans to bring a similar level of quality and lifestyle integration to Mira Road. The project aligns with Sunteck’s ongoing vision of transforming strategic urban pockets into lifestyle-centric residential destinations.
The Mira Road location benefits from a combination of strong existing infrastructure and several upcoming transportation enhancements. Located adjacent to the Western Express Highway, the site offers direct vehicular access to key parts of the city. The upcoming Metro Line 9, including the Miragaon Station, is expected to further enhance connectivity for residents, along with the nearby Mira Road and Dahisar railway stations.
Urban infrastructure improvements such as the Borivali-Thane Tunnel and the Coastal Road Extension are projected to strengthen the connectivity of Mira Road with other parts of Mumbai and Thane. These developments are likely to enhance long-term residential appeal and create upward pressure on capital values.
Mira Road has seen sustained demand for residential properties, driven by the availability of social infrastructure, rising affordability relative to central Mumbai, and improving connectivity. The area hosts numerous schools, hospitals, retail centers, and recreational zones, making it an established and livable suburb. According to market data, property prices in Mira Road range between ₹10,000 to ₹15,000 per square foot, depending on the developer, location, and project specifications.
Sunteck’s entry into this submarket with a luxury offering may help establish a new pricing benchmark in the region. With increasing migration of middle and upper-middle-income households to the suburbs, developers are increasingly introducing premium products tailored to aspirational homebuyers. The new project is expected to incorporate upscale design elements, lifestyle amenities, and efficient spatial planning, in line with Sunteck’s previous developments.
The announcement also aligns with the company’s broader expansion plans across MMR. Sunteck Realty has consistently focused on leveraging infrastructure-led growth in strategically located micro-markets. The JDA model allows the company to pursue asset-light development while expanding its footprint into newer zones with high development potential.
Industry analysts view the Mira Road project as a continuation of the company’s strategy to build a presence in suburban locations that are on the verge of transformation due to upcoming public infrastructure. By entering such markets early, developers can capture value appreciation over the development lifecycle and position themselves as market leaders in newly emerging zones.
The current project also reflects Sunteck Realty’s confidence in demand for premium housing in suburban MMR locations. Despite a broader market shift toward affordable housing in some areas, micro-markets like Mira Road are witnessing rising demand from higher-income end-users, particularly those looking for better space, amenities, and long-term connectivity.
