Mumbai’s next big thing: Shraddha Park City promises luxury and innovation

Shraddha Prime Projects Limited has announced a significant new redevelopment in the Western Suburbs of Mumbai—Shraddha Park City in Borivali East. This extensive project boasts a combined carpet area of over 471,182 square feet, encompassing both residential and commercial spaces, with the potential to generate revenue of approximately Rs. 1200 crores over the next five years.

Situated on a sprawling plot of 12,760.30 square meters in Nensey Colony, this ambitious project will feature multi-storied high-rise towers designed to enhance the urban fabric of Borivali East. The development is strategically planned under the Development Control Planning Regulation (DCPR) 2034, utilizing the 33(11) A Scheme which offers additional benefits through higher Floor Space Index (FSI), aimed at maximizing the project’s scope and scale.

Shraddha Prime has also committed a significant investment towards the development by paying Rs. 7,02,40,876 in stamp duty for the registration of the Development Agreement, underlining their commitment to this grand venture.

Shraddha Prime Projects Limited, a renowned real estate developer headquartered in Mumbai, is known for its diverse portfolio that includes residential buildings, slum rehabilitation projects, and other redevelopment initiatives. The company caters to a broad spectrum of society, offering everything from affordable housing to super-premium residences, emphasizing quality and inclusivity in every project.

Sudhir B. Mehta, Managing Director of Shraddha Prime, expressed his enthusiasm about the new project, stating, “We are pleased to announce the launch of Shraddha Park City, a project that aligns perfectly with our vision of creating superior properties that cater to modern living standards. This development exemplifies our commitment to excellence and our dedication to client satisfaction. As we expand our development portfolio across key areas of Mumbai, we are confident that this project will boost the company’s overall performance and offer exceptional living experiences to our residents.”

The launch of Shraddha Park City is a landmark event in Mumbai’s real estate sector. The project not only reflects Shraddha Prime’s robust growth trajectory but also contributes significantly to the economic development of Borivali East. By integrating modern living standards with strategic development plans, Shraddha Park City is poised to set new benchmarks in the housing and commercial property markets.