Mumbai, July 3 -- The project comprises the redevelopment of an existing residential society situated on land admeasuring approximately 1.5 acres, with an estimated gross development value of over Rs 450 crore, subject to receipt of requisite approvals, final plans, applicable regulations and market conditions.

The project is being planned as a differentiated, relatively low-density residential redevelopment for the Versova micro-market. This approach is expected to enable a higher proportion of open and landscaped spaces compared with typical high-density redevelopment projects in the area.

Under the terms of the agreement, Sunset Spaces will undertake the planning, approvals, design, construction and execution of the redevelopment pro...