Salsette 27, a Peninsula Project, is awarded a 7-Star CRISIL Grade for the second consecutive year

NewsVoir
Mumbai (Maharashtra) [India], July 5: Salsette 27, a sought-after residential project managed and marketed by Peninsula Land Limited (Promoter - Goodtime Real Estate Development Pvt. Ltd.) located in South Central Mumbai has achieved the highest rating of 7 out of 7 stars for the second consecutive year from CRISIL Real Estate Star Grading and has been captioned as Mumbai's 7 star project.
The 7 out of 7-star Award, conferred annually by CRISIL Real Estate Star Grading, is a testament to Salsette 27's outstanding performance, remarkable achievements, and unparalleled contribution to the Real Estate industry. This accolade for the second consecutive year underscores the project's exceptional standards of quality, sustainability, and impact, setting a benchmark for excellence in the field.
The 7-star rating received by Salsette 27 is the outcome of various customer-focused value propositions as mentioned below because of which the project secured the maximum score on CRISIL's elaborate grading assessment.
"It is a great honour that Salsette 27 managed and marketed by Peninsula Land Ltd, is once again affiliated to CRISIL's Real Estate Star Grading. Its 7-star rating is coveted and stands as proof of Salsette 27's promise of smart design, uncompromising quality, and the idea of offering 'serenity and tranquillity' to its residents amidst the hustle and bustle of chaotic city life," says Rajeev Piramal, Vice Chairman and Managing Director of Peninsula Land Limited.
Project location, Design, and Amenities
Located close to prominent Central Business Districts (CBDs) such as Lower Parel (approximately 3 kilometres) and Worli (around 3.5 kilometres), as well as key destinations like Bandra Kurla Complex (BKC) reachable within 31 minutes, Nariman Point in 16 minutes, and Cuffe Parade in 18 minutes. Owing to seamless connectivity via major roads like the Eastern Highway/Freeway, the project enjoys strategic positioning. Additionally, its proximity to the partially open Mumbai Trans Harbour Link (MTHL), which will connect the area to Navi Mumbai and Pune, further enhances accessibility.
The project's tagline aptly encapsulates its essence, "Away from Chaos, not from comfort and convenience." Nestled within approximately 5 acres of land, the project boasts a low flat density, housing only 524 apartments. It features expansive open spaces, including over 10,000 square feet of a natural water body thriving with active marine life and nearly an acre of lush greenery at ground level, creating a tranquil oasis amidst the bustling city.
Salsette 27 also offers a plethora of amenities catering to all age groups, with designated spaces for kids, teens, adults, and senior citizens, ensuring that every member of the family finds their own space for leisure and recreation.
Construction quality
Salsette 27 is amongst the select few in Mumbai to receive a pre-certified Green Building rating from IGBC (Indian Green Building Council). The energy-efficient apartments translate to consuming less power, which means a relatively lower expenditure on electricity and a smaller carbon footprint. Further, it has an Integrated Building Management System (a single front-end interface that controls/manages all subsystems), with 100 per cent EV charging availability for all car parks, enhancing the project's appeal to electric vehicle owners. The huge list of sustainability features at Salsette 27 differentiates it from the rest.
CRISIL Grading Parameters
CRISIL Developer Grading evaluates a real estate developer's capability to execute a project as per the specified quality standards and Salsette 27 proved to be on top of its game by getting a 7-star rating. The CRISIL Grading Scale ranges from 0 (lowest) to 7 (highest). The parameters include sponsor quality, legal documentation, financial quality, construction quality, and innovation. Scoring a 7 on this scale for the second year in a row ensures that Salsette 27 is part of an elite group of constructions that have the highest likelihood of a project being delivered as per agreed specifications, delivered with the least delays.
The project is managed and marketed by Peninsula Land Limited which is a part of Ashok Piramal Group and is committed to creating international landmarks. It has developed many landmark projects in Mumbai, Pune, and Bangalore and a portfolio of second-home projects in Lonavala, Nashik, and Goa. PLL is amongst the first real estate companies to get listed on the stock exchange. This fact alone is a strong indicator of its commitment to strong corporate governance in a sector where this factor is considered a rarity. Peninsula Land Ltd has built a legacy of landmark projects like Ashok Towers, Ashok Gardens, Peninsula Business Park, Peninsula Corporate Park, Peninsula Techno Park, etc. thereby transforming locations by uplifting the real estate value of the entire location through its projects. The company has delivered more than 10.6 million sq. ft. of real estate in Mumbai, Bengaluru, Pune, Goa, Nashik and Lonavala.
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