"Shraddha Prime Projects Ltd Provides Update on Shraddha Pavilion at Kanjurmarg East"

Shraddha Prime Projects Limited is making significant strides in the redevelopment landscape with its ongoing project, "Shraddha Pavilion," situated in Kanjurmarg East, Mumbai. The company is actively engaged in the construction of two towers, covering a carpet area of approximately 53,000 square feet. This development carries the potential to generate revenues of Rs. 100 crores within the next two years.

Managing Director, Mr. Sudhir B. Mehta, commented on the progress, stating, "We already have past experience in Kanjurmarg East and are well aware of the demographics of the area. This project was launched by us in this financial year, and construction is in process. The proximity to Eastern Express Highway, JVLR, Mulund, and Eastern Freeway makes it an important junction in Mumbai. This is a redevelopment project, and we are constructing two towers. This redevelopment project sprawls on a land parcel of 2943 sq. mtrs."

The project, named "Shraddha Pavilion," has already secured the Commencement Certificate, and construction is actively underway for both towers. The company has also acquired Transferable Development Rights (TDR) amounting to Rs. 7.7 crores, with the loading of the Floor Space Index (FSI) currently in progress. The plinth is under construction for both towers.

Mr. Mehta emphasized the project's potential, stating, "This landmark project has the potential to develop 53,000 square feet of sale area and is expected to generate potential revenues of over Rs. 100 crores in the coming 2 years. Sales have already commenced for the project. This is yet another feather in the cap for Shraddha Prime Projects Ltd, and the company would thrive to achieve more and add value for all its stakeholders."

The "Shraddha Pavilion" project represents a strategic endeavor by Shraddha Prime Projects Ltd to contribute to the dynamic real estate landscape in Kanjurmarg East, aligning with the company's commitment to excellence and value creation for its stakeholders.

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