Suvasya Builders plans to set up Residential Complex Project in Maharashtra

Suvasya Builders & Developers LLP is launching Swastik Platinum, a new residential complex project in Hariyali, Mumbai Suburban, Maharashtra. The project is a redevelopment project that will involve the destruction of existing structures and the construction of a new structure in their place. The new Swastik Platinum structure will be a 20-story tower with 123 apartments. The flats will be a combination of one and two bedrooms. 

A gymnasium, swimming pool, children's play area, and sports facilities will also be included in the project. The project is scheduled to be finished in December 2025. The total cost of the project is 174 crores. Here are some of the potential benefits of the Swastik Platinum redevelopment project: Improved living conditions: The new building will be more modern and spacious than the existing buildings, and it will offer a variety of amenities that are not currently available. Increased property value: The new apartments are expected to be worth more than the existing apartments, so residents can expect to see a significant increase in the value of their property. Reduced maintenance costs: The new building will be more energy-efficient and will require less maintenance than the existing buildings, which will save residents money on their maintenance costs.

 However, there are also some potential challenges associated with the redevelopment project: Disruption: The redevelopment project will involve the demolition of the existing buildings, which will cause some disruption for residents. Increased costs: Residents will need to pay for the cost of the redevelopment project, which can be expensive. Delays: Redevelopment projects can often be delayed, which can cause further disruption for residents. Overall, the Swastik Platinum redevelopment project has the potential to be a beneficial development for residents

. However, it is important to carefully consider the potential challenges before proceeding with the project. Residents of the existing buildings should have received a communication from Suvasya Builders & Developers LLP outlining their rights and responsibilities under the Maharashtra Ownership Flats Act (MOFA). This Act protects the rights of residents of buildings that are being redeveloped.

As of September 2023, The project is now in the stage of construction being started the work on the project will be finished in 2024, 2025 or 2026 It has been decided to hire a local contractor.

News by Rahul Yeligetti