Distressed sales in costliest Indian home market lure Sunteck Realty
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Last Updated: May 11, 2021, 07:45 AM IST
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Synopsis
Land is selling at 20% to 30% discounts in India’s most expensive property market, according to the homebuilder.
Agencies
Sunteck Realty acquired about 9 million square feet last year, and is in talks to purchase more in 2021.
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By Dhwani Pandya
Sunteck Realty Ltd. was the first to spot a business opportunity a decade ago, when it snapped up land in Mumbai’s upcoming financial district and built homes for wealthy bankers. Now, as a fallout of a prolonged cash squeeze and the pandemic, it sees a bargain brewing once again.