Suraj Estate Developers Ltd Share Price

Press Release for Acquisition of Land

The Company has acquired a piece and parcel of land for an acquisition cost of ?8.53 crore plus an area of 2200 sq ft to be handed over to land owners thus leading to total acquisition cost of ~ ?18.00 Crores (on the basis of acquisition cost plus stamp duty market value of area to be handed over to land owners plus stamp duty cost). The said plot is situated at G/North ward Dadar (West) which is one of Mumbais established micro-markets characterized by strong demand fundamentals excellent connectivity and proximity to key commercial districts such as Lower Parel Worli and Bandra Kurla Complex. The Company to undertake redevelopment the plot of land with sale carpet area of ~ 0.18 lakhs sq ft with an estimated Gross Development Value (GDV) of approximately ?100 crores. The project is expected to strengthen the Companys near-to-medium term upcoming projects pipeline and further consolidate its presence in its core operating micro-market of South-Central Mumbai.