India, Feb. 1 -- City-based real estate player Sunteck Realty has said that it has acquired around 100 acres land under asset light joint development model in the Mumbai region for affordable housing.
The company eyes Rs 5,500 crore revenue from it over the next five years.
Commenting on the development, chairman Kamal Khetan told the media, "This project marks our entry into the affordable housing segment and we will be developing it under a separate brand to differentiate it from the rest of our projects."
Sunteck has acquired nearly 100 acre from a group of high networth individuals in Naigaon in the Mumbai metropolitan region for Rs 50 crore.
"The objective to acquire the land under the asset light joint developmental model is that ...