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The Punjab government has approved plans to modernise bus terminals in Ludhiana, Jalandhar, Sangrur, Patiala and Bathinda to improve public transport facilities and commuter experience. The upgrades will be carried out through Public-Private Partnership (PPP) models under the leadership of Chief Minister Bhagwant Singh Mann. With terminals in Ludhiana and Jalandhar handling up to 1 lakh passengers daily, the initiative focuses on easing congestion and improving efficiency. Planned improvements include better waiting areas, upgraded sanitation, organised boarding, improved safety, lighting and parking facilities, along with barrier-free access. The revamped terminals are also expected to function as integrated urban hubs with commercial amenities, supporting smoother, safer and more convenient travel across key districts in Punjab.
Sunteck Realty Limited, one of Mumbai's leading luxury real estate developers, has acquired a premium land parcel in Andheri East, further consolidating its presence in one of the city's most resilient and established real estate micro-markets. The greenfield parcel, spread over approximately two acres, carries an estimated gross development value of about INR 2,500 crore and fits into the company's strategy of building scale in high-demand urban corridors. Advertisement
The site is located in Andheri East, a well-established mixed-use district that supports both residential and commercial development. It enjoys strong locational advantages, being less than 400 metres from Andheri-Kurla Road and within 250 metres of Sahar Road, with seamless access to the Western Express Highway. Its proximity to the Mumbai International Airport, coupled with metro connectivity and robust surrounding infrastructure, places it within a mature urban ecosystem that includes premium hotels, established office developments and well-developed residential neighbourhoods.
The acquisition also highlights Sunteck Realty's disciplined and patient approach to capital deployment. The land parcel had been subject to complex land-level issues and litigation for over a decade, involving multiple stakeholders. Over the last 18 months, the company worked closely with all concerned parties to resolve these challenges, enabling it to secure clear ownership and unlock the site's development potential. This process reflects Sunteck's capability to navigate complexity and create long-term value through well-timed investments.
Commenting on the transaction, Kamal Khetan, Chairman and Managing Director of Sunteck Realty Limited, said the acquisition demonstrates the company's selective approach to deploying capital in high-potential opportunities. He noted that the ability to execute complex transactions and enter compelling locations at the right values allows Sunteck to create exponential value for its stakeholders, particularly in supply-constrained markets such as Andheri East.
This transaction marks Sunteck Realty's third strategic portfolio addition in the current financial year, following a land acquisition in Mira Road and the securing of redevelopment rights for a society in Andheri East. Together, these moves underline the company's focused expansion across Mumbai's western suburbs, balancing greenfield acquisitions with redevelopment opportunities as part of a calibrated and value-accretive growth strategy.
Source: Sunteck Realty Press Bureau
5th Jun, 2025
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