Realtor and developer Ashwin Sheth Group said on Friday that it has acquired development rights for a 4.05-acre land parcel from MHADA in Siddharth Nagar, Goregaon West, Mumbai, marking a bold foray into the city’s western suburbs. The project, with a Gross Development Value (GDV) of ₹3,800 crore, is poised to significantly elevate the residential landscape of the area with luxury housing and state-of-the-art amenities.

The proposed development will feature five residential towers—four soaring 44 floors and one signature 60-floor tower—alongside a dedicated retail component. Spread across approximately 12 lakh sq. ft. of RERA carpet area, the project will offer spacious 2, 3, and 4 BHK homes, ranging from 800 to 1,600 sq. ft., designed to meet the evolving aspirations of urban homebuyers.

“This strategic acquisition from MHADA represents a milestone in our expansion strategy,” said Ashwin Sheth, Chairman and Managing Director of Ashwin Sheth Group, in a statement. “Goregaon West has emerged as one of Mumbai’s most promising residential destinations, and securing this prime 4.05-acre parcel positions us to deliver a world-class development that will set new standards for premium living in the western suburbs.”

The project’s location in Siddharth Nagar offers robust connectivity to key business hubs, major entertainment districts, and transport corridors, including the Western Express Highway and suburban rail network. With infrastructure projects such as metro lines and arterial road improvements reshaping the area, Goregaon West has become a magnet for both homebuyers and real estate investors.

The new project adds to Ashwin Sheth Group’s expanding portfolio of premium housing and reflects the company’s intention to deepen its presence in Mumbai’s high-growth corridors. Known for upscale residential and mixed-use developments, the group has been actively capitalising on emerging micro-markets across the Mumbai Metropolitan Region.

The launch comes at a time when Mumbai’s western suburbs are witnessing record interest in high-end residential offerings, fuelled by rising disposable incomes, lifestyle upgrades, and urban migration patterns. Property prices in Goregaon West have appreciated steadily in recent years, driven by the presence of commercial hubs such as Mindspace Malad, NESCO IT Park, and retail attractions including malls and multiplexes.

Earlier, India’s largest real estate developer, DLF, announced its re-entry into the Mumbai residential market after more than a decade, with the launch of ‘The Westpark’, a premium project located in Andheri West, in partnership with Trident Group. “We’re raising the bar, and our upcoming launches in Mumbai and future phases of The Dahlias will reflect our commitment to refined living,” Aakash Ohri, Joint Managing Director and Chief Business Officer, DLF Homes, had told Fortune India on the sidelines of the announcement.