Shraddha Prime Projects Ltd Secures Commencement Certificate for 'Shraddha Phoenix' in Mulund
Shraddha Prime Projects Ltd, which was formerly known as Towa Sokki Limited, has announced the receipt of a Commencement Certificate (CC) for its new redevelopment project, 'Shraddha Phoenix'. The project is situated at Vidyalaya Marg, Mahakali Nagar, Village Mulund (East), within the Mumbai region.The 'Shraddha Phoenix' development involves the redevelopment of Siddhivinayak Welfare SRA CHS (Prop) and Uttar Bhartiya Residents SRA CHS. The project boasts a total RERA Carpet Area (Residential) of approximately 75,355.64 Sq. Ft. (Approx).
Financial projections indicate that this development has the potential to generate revenue of approximately Rs. 150 Crores in the next three years.
The company has established itself as a real estate developer with a focus on residential and redevelopment projects across Mumbai's key suburban micromarkets.
Sudhir Mehta, Managing Director of Shraddha Prime Projects Ltd, stated that receiving the Commencement Certificate for the Shraddha Phoenix project marks a significant milestone. He added that the development aligns with the company's ongoing focus on redevelopment opportunities in Mumbai and strengthens its presence in key micro-markets such as Mulund.
Shraddha Phoenix is strategically located in Mulund (East), described as a rapidly developing suburban hub with strong connectivity and growing residential demand.
Shraddha Prime Projects Limited maintains a diversified portfolio that includes residential developments, slum rehabilitation (SRA) projects, redevelopment initiatives, and MHADA projects. The company serves a wide range of homebuyers with solutions spanning from affordable homes to premium and super-premium dwellings.
Stock Price Movement
As of 1:40 PM, shares of Shraddha Prime Projects Ltd are ticking up at ₹167.90, climbing 0.81% today. The stock has traded through a noticeable intraday range, dipping down to ₹166.00 before testing its high at ₹172.70.Source:
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