A combined venture connecting Ajay Piramal Group and Sunteck Realty Piramal Sunteck Realty, has come out as the uppermost bidder for a 2-acre plot near Palm Beach Road at Airoli, Navi Mumbai , with its offer of 75 crore, above three times its reserve price cited by CIDCO.

Piramal Sunteck's offer placed at 91,116.99 per square meter, whilst the second- elevated offer by Ganesh Valji Vaidhya, a regional developer was 88,900 per square meter. According to Khushru Jijina, the executive director, Piramal Sunteck Realty, they might build up a comfort residential development plan extended over 2,75,000 sq ft on the plot and may roll out the same as soon by the month of January.

The group is by now mounting one more luxury project known as Signia Oceans spread across 1,35,000 sq ft on 1.12-acres in the similar region, and is valued at above 6,500 sq ft, he added.

Piramal Sunteck has above 20 million sq ft in the course of formation with finest commercial and residential projects in Mumbai, Jaipur and Nagpur.

As per Mr. Jijina, the mutual venture is also expected to extend the 30-acre plot in Thane possessed by Piramal Healthcare, which is one more Ajay Piramal Group company.