Sunteck Realty acquires 2-acre land in Mumbai’s Andheri through distress deal

Listed real estate developer Sunteck Realty has acquired a distressed greenfield land parcel in Mumbai’s western suburbs Andheri East, in one of the distress-led land transactions seen in the city, after resolving long-standing land-level litigation involving multiple stakeholders.

The land parcel, spread across around 2 acres located off Andheri Kurla Road acquired for Rs 140 crore, holds gross development value (GDV) of around Rs 2,500 crore.

The plot had been subject to land-related complexities and litigation spanning over a decade, involving multiple stakeholders, which had prevented development despite its established location.


“We are selective about where and how we deploy capital. This acquisition reflects our ability to identify high-potential opportunities and execute complex transactions involving multiple stakeholders, enabling us to create exponential value for the company and its stakeholders,” said Kamal Khetan, CMD, Sunteck Realty.

The acquisition aligns with its portfolio strategy of expanding within Mumbai’s established urban corridors as it has maintained a focus on select micro-markets within the city, with an emphasis on both greenfield projects and redevelopment opportunities, he said.

According to the company, over the past 18 months, it engaged individually with all concerned parties to resolve these issues, enabling the company to secure clear ownership and proceed with development.

This transaction is Sunteck Realty’s third strategic addition to its development portfolio in the current financial year. Earlier, the company acquired a new project in Mira Road and secured development rights for a housing society in Andheri East.

The latest deal assumes significance in an industry context where outright land acquisitions in Mumbai have increasingly given way to joint ventures, redevelopment projects, and structured transactions. Also, litigation-free land parcels in established micro-markets across key property markets have become limited.

The deal adds to a small set of distress-led land resolutions in Mumbai at a time when most developer expansion has shifted toward redevelopment and partnership-led structures. Several land parcels across established micro-markets have remained stalled for years due to ownership disputes and litigation, limiting fresh supply despite sustained demand.

According to industry experts, resolution of such assets requires longer timelines and higher execution risk, restricting participation to developers with balance sheet strength and legal capability. This deal reflects how selective capital is being deployed to unlock encumbered land rather than acquire clean parcels, which have become scarce across Mumbai’s key micro markets.