'%20fill='%23fff'%3e%3cpath%20d='M333,744%20C331.23,744%20329.685,744.925%20328.796,746.312%20L323.441,743.252%20C323.787,742.572%20324,741.814%20324,741%20C324,740.497%20323.903,740.021%20323.765,739.563%20L329.336,736.38%20C330.249,737.37%20331.547,738%20333,738%20C335.762,738%20338,735.762%20338,733%20C338,730.238%20335.762,728%20333,728%20C330.238,728%20328,730.238%20328,733%20C328,733.503%20328.097,733.979%20328.235,734.438%20L322.664,737.62%20C321.751,736.631%20320.453,736%20319,736%20C316.238,736%20314,738.238%20314,741%20C314,743.762%20316.238,746%20319,746%20C320.14,746%20321.179,745.604%20322.02,744.962%20L328.055,748.46%20C328.035,748.64%20328,748.814%20328,749%20C328,751.762%20330.238,754%20333,754%20C335.762,754%20338,751.762%20338,749%20C338,746.238%20335.762,744%20333,744'%20id='share'%20sketch:type='MSShapeGroup'%3e%3c/path%3e%3c/g%3e%3c/g%3e%3c/svg%3e)
Share
Property Description
This is a 1.4-acre land assembly available for outright acquisition and redevelopment in Sewri, Mumbai. The property has a total plot area of 61,042 sq. ft. (5,671 sq. mt.) and is positioned opposite residential developments including Dosti Flamingos and Ashok Gardens. The opportunity is proposed for a luxury high-rise residential or mixed-use tower.
Property Details
- The total plot area measures 61,042 sq. ft. (5,671 sq. mt.).
- The assembly includes 3,468 sq. mt. of Collector Freehold Toka land.
- The assembly includes 2,203 sq. mt. of Mumbai Port Authority leasehold parcels.
- Existing structures include the cessed Category A buildings Tokarshi Building, Mulraj Bhuvan and Tilak Building.
- The property also includes a localised slum pocket containing residential units and commercial shops.
- A 1,500 sq. ft. land component is allocated for reconstruction or sanctioning of a 750 sq. ft. carpet area ground-floor Jain Temple.
- More than 70% of tenants across the cessed structures have executed written redevelopment consents, against a statutory minimum requirement of 51%.
- The site is approximately a 5-minute walk from Sewri Railway Station and the bus depot.
- The location has access to the Sewri-Worli Elevated Connector, Bandra-Worli Sea Link, Atal Setu and the upcoming Mumbai Metro Line 11.
- KEM Hospital and Tata Memorial Hospital are stated to be approximately 5 minutes away.
- Nearby developments include Rustomjee Vista Bay, Lodha Aureus and L&T The Gateway.
Transaction Terms
The owners are prepared to execute a definitive outright sale of the entire land assembly. The selected developer will receive an exclusive engagement framework to process and secure the BPT lease extension and redevelopment NOC, after which the outright sale transaction will formally close. Detailed survey numbers and address particulars are shared upon execution of a professional Expression of Interest or Non-Circumvention agreement. For site visit or more details, contact AV Properties.