Ahmedabad-based Savvy Group Ventures Into Mumbai Real Estate

Ahmedabad-based Real Estate Developer Savvy Group Intends to Construct Projects Worth INR 2000 Crores in Mumbai

Savvy Group, a real estate developer located in Ahmedabad, has announced its debut into the Mumbai real estate market. The business expects to spend around Rs 2,000 crore in the development of real estate projects in Mumbai, beginning with an investment of Rs 750 crore in two properties it has bought in the western suburb of Andheri and the central suburb of Ghatkopar.

These projects consist of a mixed-use development and residential development. The business has purchased property in Andheri (East) and inked a deal to construct a Ghatkopar housing complex. Additionally, Savvy Group is in talks to acquire other greenfield and renovation properties in Mumbai through collaborative development or outright acquisitions.

As per Jaxay Shah, the chief executive officer of Savvy Group, the firm is entering the Mumbai market because of the city's development possibilities and its status as the commercial centre of India.

It is projected that the two projects in Andheri and Ghatkopar have a combined development potential of over 300,000 square feet. The business has already obtained clearance for the Andheri project, while the approval procedure for the Ghatkopar project is now ongoing.