On Wednesday, June 11, Ashwin Sheth Group, a Mumbai-based real estate developer, announced acquiring a 50% share in ‘One Marina’, a luxury residential project located in South Mumbai’s Marine Lines. The estimated gross development value (GDV) of the said project is 2,300 INR-Crore.
The project, One Marina, will feature sea-facing apartments, including 3- 4 BHK units, duplexes, triplexes, and penthouses. The tower will be 74 floors above the ground, and construction has been completed up to the 9th podium level. With this project, Ashwin Sheth Group aims to redefine truly luxurious living.
Also read: Nidhiland lays foundation stone for two luxury residential projects in Mangalore
The stakes were bought from Vallabh Sheth and Jitendra Sheth, promoters of Sheth Creators, who previously co-owned it along with landowner YM Infra. PAG, Singapore, an Asia-focused investment firm, substantially backed this acquisition by committing 64 US$-Million (over 540 INR-Crore). Out of the 1 Million-SqFt of the total development, 4 Lakh-SqFt of sellable area is owned by Ashwin Sheth Group.
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