Shraddha Park City: Rs. 1200 Cr. Redevelopment Boom in Borivali East

Shraddha Prime Projects has launched its ambitious redevelopment initiative, Shraddha Park City, in Nensey Colony, Borivali East, Mumbai. The project boasts a substantial RERA Carpet Area, with residential space covering 4,36,800 sq. ft. and commercial space encompassing 34,382 sq. ft., poised to generate an impressive Rs. 1200 crore in revenue over the next five years.

Spanning a plot area of 12,760.30 sq. meters, Shraddha Park City will feature a multi-storied high-rise tower, marking a significant addition to Mumbai’s skyline. The company has already paid Rs. 7,02,40,876 in stamp duty for the registration of the development agreement, demonstrating its commitment to the project.

Shraddha Park City will be developed under the Development Control Planning Regulation (DCPR) 2034, specifically utilizing the 33(11) A Scheme. This scheme provides additional benefits, including a higher Floor Space Index (FSI), enhancing the project's viability and potential.

The strategic location in Borivali East and the expansive commercial and residential spaces are expected to attract significant interest from both investors and future residents, contributing to the area's growth and development.

Shraddha Prime Projects’ latest venture underscores its dedication to innovative urban redevelopment, aiming to transform Nensey Colony into a thriving hub of modern living and commerce.

News by Rahul Yelligetti