In one of the most significant real estate transactions of land in Mumbai February 2026, Suraj Estate Developers has acquired 100% equity in Hally Pacific Private Limited to develop a strategically located parcel of land in Mumbai. The acquisition involves a prime property situated in the highly sought-after Prabhadevi area, marking a major milestone for the company’s growth strategy in South-Central Mumbai.
Suraj Estate Acquires Hally Pacific to Develop Prime Land in Mumbai
The transaction, completed on February 20, 2026, is valued at over ₹30.40 crore. Through this deal, Suraj Estate Developers gains complete ownership of a 0.2-acre plot located on Sayani Road in Prabhadevi. This land in Mumbai is considered extremely valuable due to its central location, excellent connectivity, and high residential and commercial demand. The company plans to develop a premium residential project on the site with a saleable carpet area of approximately 36,700 square feet, generating an estimated gross development value (GDV) of around ₹200 crore.
Prabhadevi is among the most prestigious micro-markets in Mumbai, offering seamless connectivity to key commercial hubs such as Dadar, Lower Parel, Worli, and Bandra. The presence of vital transport infrastructure, including suburban railway lines, arterial road networks, and metro connectivity, has significantly boosted demand for high-quality residential developments. As a result, acquiring premium land in Mumbai within this locality is considered a strategic move that ensures long-term value creation.
Suraj Estate Developers has established itself as a prominent player in Mumbai’s real estate sector, particularly in the South-Central Mumbai corridor. Over the years, the company has successfully completed 45 projects, delivering more than 1.6 million square feet of developed space. Currently, it has 13 ongoing projects spanning approximately 2.35 lakh square feet of developable area and 17 upcoming projects with nearly 1.19 million square feet of saleable carpet area. This latest acquisition further strengthens the company’s footprint by adding prime land in Mumbai to its development portfolio.
The company has previously executed several landmark institutional and commercial developments, including the 60,000-square-foot Saraswat Bank Building in Prabhadevi and the 90,000-square-foot CCIL Building in Dadar. These projects highlight Suraj Estate’s expertise in handling complex developments in dense urban environments, making it well-equipped to unlock the potential of this newly acquired land along with real estate in Mumbai.
Commenting on the transaction, Director Rahul Thomas stated that the acquisition aligns perfectly with the company’s long-term strategy to strengthen its presence in core South-Central Mumbai markets. He emphasized that Prabhadevi’s robust infrastructure, superior social amenities, and strong residential demand make it an ideal destination for premium developments. According to him, securing such rare and strategically located land in Mumbai is a significant step toward expanding the company’s high-quality housing portfolio.
Prabhadevi also holds immense cultural and commercial importance. The iconic Shree Siddhivinayak Temple, one of Mumbai’s most revered religious landmarks, is located in this neighborhood, further enhancing its prominence. Additionally, excellent connectivity to business hubs, educational institutions, healthcare facilities, and entertainment zones makes Prabhadevi one of the most desirable residential destinations. The scarcity of available land in Mumbai, especially in such prime areas, further underlines the importance of this acquisition.
Mumbai, as a city, constantly grapples with the challenge of limited space availability. Unlike other metropolitan regions, the city’s geographic constraints significantly restrict land supply, driving up real estate values. As redevelopment and brownfield projects gain prominence, acquiring well-located land in Mumbai becomes increasingly competitive. In this context, Suraj Estate’s acquisition of this plot stands out as a masterstroke, attracting attention from industry experts and investors alike.With a projected GDV of ₹200 crore, the upcoming project is expected to significantly contribute to the company’s revenue pipeline while also offering premium residential options to homebuyers. As demand for high-quality housing in central locations continues to rise, developments on prime land in Mumbai are likely to witness strong market response, reinforcing the strategic importance of this deal.