Renowned builders Shapoorji Pallonji and Asia-Pacific Investment Company (PAGs) struck a deal to build 91-storey super residential project, whose construction was kicked off by Lokandwala Kataria in 2010. However, the project was delayed due to not able to secure necessary permissions on time and due to the pandemic situation in the country. Shapoorji Pallonji Company will take care of the branding, sales and marketing of the project, which was named Minerva. The project is coming up in Mahalakshmi area of Mumbai. India Bulls Housing Finance Company is funding the project. Shapoorji Pallonji has entered the ultra luxury segment with the help of the project.
The Mahalakshmi Race Course and the Arabian Sea can be seen from the 300-meter-high project. The company estimates to earn revenue of Rs. 1500 crore from the project. The total area of construction would be 12-lakh sft. Out of the total 372 flats on offer, many celebrities and industrialists are understood to have bought the flats. Occupancy certificate has been issued up to 51st floors. It is predicted that around 200 buyers will celebrate house-warming soon.
