Mumbai, September, 2022: Milind Soman has recently booked a 4 BHK, spread over a 1720 sq ft carpet area with two parking’s in a luxury project, Ocean Star by Suraj Estate Developers Limited.
Speaking on the occasion, Whole-time Director of Suraj Estate Developers Limited, Rahul Thomas said, “Ocean Star is an oasis in the heart of Prabhadevi, a picturesque neighbourhood, and is located less than 100 metres from the sea. We are excited to welcome Milind Soman to the Suraj Family.”
Prabhadevi has recently seen a lot of traction from the who’s who of the town, owing to its connectivity and low density compared to other micro-markets of the catchment. Located in this highly sought after luxury residential area, Ocean Star is very well-connected. Right next to Dadar Beach, it is not far from important places of worship such as Jain Derasar and the iconic Siddhivinayak Temple. It also has easy access to commercial hubs of the city with Dadar Station just a ten-minute walk away.
Designed by the architect, Sanjay Puri, Ocean Star comprises 3 & 4 BHK residences sized 1153 sq ft and 1720 sq ft respectively. It has a floor-to-floor height of 12.6 feet and endless views of the Arabian Sea and Bandra Worli Sea-Link. .
Suraj Estate Developers Limited has worked with many partners across its projects. It has been leading in the combined markets of Mahim, Matunga, Dadar, Prabhadevi and Parel. Rahul Thomas stated, “We are an award winning developer in the south central micro-market of Mumbai with a legacy of 35 years. In H1 2022 we have seen good traction in sales across our three engines of growth: luxury, value luxury residential and commercial projects in south central Mumbai.”
Suraj Estate Developers Limited recently filed its draft red herring prospectus (DRHP) with the markets regulator Securities and Exchange Board of India (SEBI) to raise upto Rs 500 crore through an initial public offering (IPO) with a fresh issue of shares. As per the Anarock report referred to in its DRHP, the company between 2016 and Q3 of 2021 stood to have 15.2% and 13.5% market share in terms of supply and absorption respectively. This was with reference to the number of units in the residential submarkets of Mahim, Matunga, Dadar, Prabhadevi and Parel.
Established in 1986, Suraj has executed 42 projects in the island city. Currently there are 9 ongoing projects with a developable area of 1,970,445 sq ft and saleable RERA carpet area of 442,616 sq ft. The 21 upcoming projects have an estimated carpet area of 928,400 square feet. As of December 31, 2021, Suraj had 10,359.7 sq meters of land reserves. It has established itself among the market leaders in redevelopment projects in south central Mumbai submarkets.
For more information, please contact: Concept PR
Ameya Gore / 9769251999/ ameya@conecptpr.com
SURAJ ESTATE DEVELOPERS LIMITED is proposing, subject to applicable statutory and regulatory requirements, receipt of requisite approvals, market conditions and other considerations, to make an initial public offering of its Equity Shares and has filed the DRHPdated March 4, 2022 with SEBI on March 5, 2022. The DRHP is available on the websites of SEBI at www.sebi.gov.in, websites of the Stock Exchanges i.e., BSE at www.bseindia.com and NSE at www.nseindia.com and the websites of the BRLMs i.e., Centrum Capital Limited at www.centrum.co.in and Anand Rathi Advisors Limited at www.rathi.com. Potential investors should note that investment in equity shares involves a high degree of risk and for details relating to such risk, please see the section titled “Risk Factors” of the RHP, when filed. Potential investors should not rely on the DRHP filed with SEBI for making any investment decision. The Equity Shares offered in the Issue have not been and will not be registered under the U.S. Securities Act, or any state securities laws in the United States, and unless so registered, may not be offered or sold within the United States. The Equity Shares are being offered and sold only outside the United States in offshore transactions in reliance on Regulation S under the U.S. Securities Act and the applicable laws of the jurisdictions where such offers and sales are made. The Equity Shares has not been and will not registered, listed or otherwise qualified in any other jurisdiction outside India and may not be offered or sold, and Bids may not be made by the persons in any such jurisdiction, except in compliance with the applicable laws of such jurisdiction.
