New Delhi, Aug. 25 -- Mumbai-based real estate developer Supreme Universal has acquired development rights for a one-acre land parcel near Carter Road in Bandra West, where it plans to build a luxury and ultra-luxury residential project. The development is expected to generate around Rs.1,500 crore in revenue, while the developer plans to invest approximately Rs.1,000 crore in the project.

According to a report by Hindustan Times (HT), the company said the proposed tower is planned as one of the tallest developments in the neighbourhood and will offer sea views, private residences, open spaces and lifestyle-focused amenities.

According to media reports, the land parcel includes two early 20th-century bungalows - Gladhurst and Kavas Lodg...