Realty firm Shapoorji Pallonji Real Estate (SPRE) said it has been appointed as the project marketing consultant in an ongoing luxury residential project in South Mumbai being developed by Lokhandwala Kataria Construction.
According to a report of PTI, The project Minerva comprises a 91-storey and over 300-metre-tall building overlooking the Mahalakshmi Racecourse and the Arabian Sea. The ultra-luxurious project has 372 apartments, of which 200 units are already completed and being handed over to customers.
The revenue potential of the remaining residential inventories is estimated at over Rs 1,500 crore. SPRE has been appointed by Lokhandwala Kataria Construction as a project marketing consultant. This ultra-luxurious project is financed by Indiabulls Housing Finance Ltd and PAG, a leading APAC-focused investment firm, the company said in a statement.
With a saleable area of 11.6 lakh square feet, a revenue potential of over INR 1,500 crore is expected for the balance inventory, it added.
Many celebrities and businessmen have already purchased homes in the opulent Minerva project. The project has received part OC (occupancy certificate) up to the 51st habitable floor, and over 200 home buyers will soon be moving in, the statement said. The rehabilitation component of the project is also nearing completion.
Venkatesh Gopalkrishnan, CEO, Shapoorji Pallonji Real Estate, said, This project aligns with our strategy of expanding our presence in the ultra-luxury segment. With Indiabulls Housing Finance and leading investment firm PAG as the financial partners for Minerva, this project gains a lot of confidence.