Supreme Universal inks pact to develop 5-acre land parcel in Mumbai’s Chembur.

Realty developer Supreme Universal has entered into an agreement to develop a nearly 5-acre prime land parcel in Chembur suburb of Mumbai. The company is planning to develop a premium gated community project on the land parcel that has a total development potential of around 1 million sq ft.

The company has acquired the development rights of the said land parcel through its subsidiary Supreme Sky High LLP and will be investing nearly Rs 1,000 crore to develop the project.

ET