Vibe Realty Private Limited (VRPL), a real estate company founded by industry leader Gopal Sarda, announced its acquisition of a joint development project in NIBM, Pune.
Spread over 8 acres, the project has a saleable area of 1.03 million square feet and will comprise over 750 residential units, with expected sales value of over Rs. 650 crore. Buyers can look forward to living in a beautifully landscaped neighbourhood with a grand 12,000 plus square feet clubhouse, a modern gymnasium, swimming pool and other lifestyle amenities. VRPL plans to launch the project in the second half of the current financial year.
In addition, the developer has also acquired its fourth redevelopment project in May 2024, located in the Bangur Nagar area of Goregaon West, Mumbai. This project has a plot size of 4,000 square meters, development potential of approximately 3.5 lakh square feet and revenue potential of over Rs.290 crore.
These new projects add to VRPL’s existing portfolio following the earlier announcement. which comprises of four acquired projects located in Khar West, Bandra East, Andheri East and Goregaon West in Mumbai and now the total cumulative development potential stands at 2.7 million square feet with an estimated GDV of over Rs. 2000 crore and an estimated profit of around 23-25 percent. Of the above GDV, Inventories worth Rs. 1100 crores are slated to be launched in the next 90 days.
Speaking on the today’s announcement, Gopal Sarda, Founder and CEO of Vibe Realty Private Limited, stated: “These projects give us the opportunity to further scale our development vertical with sizeable work under various stages of execution. This helps us expand our footprint in Pune and establishes our presence in Mumbai, which is in line with our current strategy of creating a portfolio of new-age products that support the transformation of Maharashtra’s skyline. So far, VRPL has established a good foundation and made a lot of progress in the redevelopment space, while the company is also evaluating various projects under JV, JD and structured outright deals. It is our objective to deliver exceptional value to the entire ecosystem associated across every project, including landowners, buyers, members and all other stakeholders.”
Vibe Realty Private Limited
Vibe Realty, a new age real estate development company, aims to create landmark properties meeting international standards. Incorporated in September 2021, Vibe Realty focuses on providing top-quality residential, commercial and mixed-use developments in Mumbai, Pune and the rest of Maharashtra. The company stands out through innovations in Design, Technology and Quality for on-time project delivery. Vibe Realty has corporate headquarter at One BKC, Mumbai with the leadership team having over a decade of experience with leading real estate companies.