Shraddha Prime Projects Receives Commencement Certificate for Redevelopment Project in Mulund West, Mumbai
Mumbai-based real estate developer Shraddha Prime Projects Ltd, formerly Towa Sokki Limited, has received the Commencement Certificate (CC) for its upcoming redevelopment venture, 'Shraddha Paradise Enclave'. The project is situated at Swapna Nagari, Nirmal Nagar-Agrawal Road, Village Mulund (West) Taluka-Kurla, within 'T' ward BMC, Mumbai 400080.The redevelopment project involves Himgiri CHS and is positioned to significantly contribute to Mumbai's real estate landscape. The company highlighted the substantial scope and potential value of the development.
Project Scope and Revenue Potential
Shraddha Paradise Enclave boasts significant development areas, encompassing both residential and commercial segments. The project includes the redevelopment of Himgiri CHS with a total RERA carpet area (residential) of approximately 1,30,000 sq. ft. and RERA carpet area (commercial) of approximately 20,000 sq. ft.The estimated revenue potential for the project is substantial, projected at ₹ 450 crore over the next three years.
The key project details are summarized below:
| Feature | Detail |
|---|---|
| Project Name | Shraddha Paradise Enclave |
| Location | Swapna Nagari, Mulund (West), Mumbai 400080 |
| Development Scope | Redevelopment of Himgiri CHS |
| RERA Carpet Area (Residential) | Approx. 1,30,000 sq. ft. |
| RERA Carpet Area (Commercial) | Approx. 20,000 sq. ft. |
| Estimated Revenue (Next 3 Years) | ₹ 450 crore |
Strategic Importance for the Developer
The company stated that the project adds to its expanding redevelopment portfolio. Sudhir Mehta, Managing Director of Shraddha Prime Projects Ltd, commented on the development, stating that the Commencement Certificate reinforces the company’s strategy to capitalize on burgeoning redevelopment opportunities in Mumbai. He noted that the company’s diverse portfolio includes various living spaces, ranging from premium residences and affordable housing to slum rehabilitation projects, solidifying its presence in major micro-markets within Mumbai.Shraddha Paradise Enclave's location in Mulund (West) is cited as strategically advantageous, placing it within a developing suburban hub characterized by robust connectivity and growing residential demand.
Shraddha Prime Projects Limited is a growing Mumbai-based real estate developer. Its portfolio is diversified, spanning residential developments, slum rehabilitation (SRA) projects, redevelopment initiatives, and MHADA projects. The company caters to a wide spectrum of homebuyers, offering solutions that include affordable homes, compact residences, premium, and super-premium dwellings, maintaining a strong focus on quality and execution in the Mumbai real estate market.
Stock Price Movement
As of 14:47, shares of Shraddha Prime Projects Ltd are edging higher, currently trading at ₹163.45, up +0.18%. Throughout the day, the stock moved between a low of ₹163.00 and an intraday high of ₹171.50.Source:
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