Shraddha Prime Projects Limited (‘Shraddha Prime’) has made a key announcement regarding its flagship real estate project, Shraddha Peninsula, located in the bustling area of Balkum, Thane. On September 5, 2024, the project received the Full Commencement Certificate (CC) from the Thane Municipal Corporation (TMC), marking a significant milestone in the project’s lifecycle.

With the receipt of the full CC, Shraddha Prime is positioned to accelerate the development, ensuring that Shraddha Peninsula is delivered well ahead of the scheduled completion date.

Project Timeline Accelerated by Nearly Five Months

Initially planned for completion by April 30, 2026, Shraddha Peninsula is now on track to be delivered by December 2025, five months ahead of schedule. This accelerated timeline is a testament to Shraddha Prime's ability to maintain and even surpass its project timelines. In an industry where delays are common, delivering a project ahead of schedule reflects the company’s operational efficiency and commitment to its customers.

Strategic Location of Shraddha Peninsula in Thane

Located in Balkum, Thane, a rapidly developing area known for its prime real estate opportunities, Shraddha Peninsula is well-placed to meet the growing demand for quality housing. Thane has become a sought-after location for real estate development due to its connectivity, infrastructure, and proximity to Mumbai. Shraddha Prime Projects has chosen this area as part of its broader strategy to focus on prime locations in Mumbai and its surrounding regions.

Mr. Sudhir B. Mehta, Managing Director of Shraddha Prime, stated: “We are pleased to report significant progress on Shraddha Peninsula. The receipt of the full Commencement Certificate from the Thane Municipal Corporation has accelerated the development process. We remain focused on scaling up development in key areas, ensuring financial stability and delivering value to our stakeholders.”

Real Estate Growth and Market Positioning

The Thane real estate market has been witnessing robust growth, and Shraddha Peninsula is set to contribute significantly to the area's development. Shraddha Prime's ability to push ahead with its timelines gives it a competitive edge. By completing the project early, the company is likely to see an increase in demand from buyers eager to invest in prime real estate projects with a solid delivery record.

The Shraddha Peninsula project includes state-of-the-art residential units, along with modern amenities that cater to the growing needs of homebuyers. By accelerating the delivery timeline, Shraddha Prime is also likely to see positive financial performance, as early completions generally result in better cash flow and reduced holding costs.

Strengthening Financial Performance Through Timely Delivery

For Shraddha Prime, the early delivery of Shraddha Peninsula is not just about meeting customer expectations but also about strengthening the financial health of the company. Timely project execution and early delivery have a direct impact on the company’s bottom line by improving cash flow and reducing interest payments on loans associated with the project.

Shraddha Prime Projects has a history of delivering projects on time, and the success of Shraddha Peninsula will further enhance its reputation in the real estate sector. By consistently completing projects before deadlines, Shraddha Prime is positioning itself as a trusted and reliable developer in the Mumbai-Thane real estate market.

Impact on Real Estate Investors and Buyers

The news of the project’s accelerated timeline is also a positive development for potential homebuyers and investors. Those who have already invested in the Shraddha Peninsula project can expect their properties to be ready for occupancy much sooner than originally planned. This provides a clear advantage in terms of rental income potential or early possession for end-users.

For real estate investors, timely project completion often correlates with increased property values. Buyers of units in Shraddha Peninsula can anticipate better return on investment (ROI) due to the prime location and the early completion of the project.

Looking Ahead: Future Development Plans for Shraddha Prime

While the focus is currently on the Shraddha Peninsula project, Shraddha Prime Projects has an ambitious pipeline for future developments. The company plans to expand its real estate portfolio in key locations across Mumbai and Thane, ensuring that it maintains its competitive edge in the rapidly evolving market.

The success of Shraddha Peninsula will serve as a strong foundation for Shraddha Prime’s future projects. With the company’s commitment to timely delivery and its focus on developing in prime real estate locations, Shraddha Prime is poised for continued success in the coming years.

Conclusion

The full Commencement Certificate received for Shraddha Peninsula marks a significant milestone for Shraddha Prime Projects Limited. With an accelerated project timeline and delivery expected by December 2025, the company has reinforced its position as a key player in the Thane real estate market. The prime location of the project, combined with its early completion, offers significant benefits to both investors and homebuyers.

As Shraddha Prime continues to expand its real estate footprint in Mumbai and its surrounding areas, the company's focus on timely project execution and delivering value to stakeholders remains at the forefront of its strategy.

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