Milind Soman buys 4 BHK in a luxury project worth whopping approx Rs. 9 crore in Prabhadevi

Milind Soman has recently booked a 4 BHK worth whopping approx Rs. 9 crore, 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 up to 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 a 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.

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