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Suraj Estate Arm Acquires Mahim Land Rights

2026-06-02

Suraj Estate Developers, through its wholly owned subsidiary Iconic Property Developers, has signed an MoU to acquire development rights for a land parcel in Mahim (West), Mumbai, for Rs 75 crore. The plot measures around 2,941 sq m and is located next to the company’s ongoing commercial project, Suraj One Business Bay.

After amalgamation with the existing commercial development, the land is expected to generate additional saleable carpet area of around 1.50 lakh sq ft, with an estimated gross development value of Rs 800 crore. The project is expected to strengthen the company’s near-to-medium term pipeline and expand its presence in South Central Mumbai.

Mahim is an established Mumbai micro-market with strong demand, connectivity and access to key business districts such as Lower Parel, Worli and Bandra Kurla Complex.

Rahul Thomas, Whole-Time Director, Suraj Estate Developers, said the acquisition would expand the company’s commercial footprint in South Central Mumbai. He added that, with this acquisition, the combined GDV of Suraj One Business Bay would exceed Rs 2,000 crore.

Suraj Estate Developers has been operating in real estate since 1986, with a focus on residential and commercial projects in South Central Mumbai. The company has completed over 45 projects covering more than 16.09 lakh sq ft and has 13 ongoing projects with a developable area of 23.54 lakh sq ft.

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