DSK Legal acted for Sunteck Lifespaces Private Limited

DSK Legal acted for Sunteck Lifespaces Private Limited

DSK Legal advised and assisted SUNTECK LIFESPACE PRIVATE LIMITED in respect of acquisition of development rights of property admeasuring in aggregate 28,935 square meters situate at Village Navghar (Mira Road), Taluka Thane and District Thane ("Property").

Sunteck Lifespaces Private Limited, is an offshoot of Sunteck Realty Limited, an Indian real estate developer based in Mumbai, India. Sunteck Realty Limited is known for its high-end residential properties which are classified under different brand names.

Sunteck has developed a solid footing in Mumbai's western suburbs through constant acquisitions and has emerged as one of the industry's major companies.

The project is estimated to have development potential of approx. 2.5 million square feet of built up area and a revenue potential of around Rs.3000 crore.

As part of the project that will be executed in phases, the company is planning to develop high-rise luxury housing along with a certain part as a retail component.

DSK Legal assisted in inter alia (i) conducting a due diligence in respect of the Property and issuing a Memo; and (ii) drafting, reviewing, revising, negotiating and finalizing the transaction documents i.e. development agreement, power of attorney, ancillary deeds, letters and writings, thereto.

The team representing DSK Legal comprised of Mr. Sagar Kadam, Partner, Ms. Mitali Naik, Associate Partner, and Ms. Ekta Sawant, Senior Associate. Mr. Sajit Suvarna, Deputy Managing Partner acted as the lead engagement partner for the transaction.

The Owners were represented by Khaitan & Co.

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