Redevelopment projects in Mumbai are rapidly increasing, changing the city’s urban landscape and meeting housing demands. The project by Arkade Developers to renovate the Nutan Ayojan Cooperative Housing Society in Malad West is a perfect illustration. With a projected gross development value (GDV) of over INR 740 crore and a total area of 6,858.90 square meters, the project would meet the increasing suburban demand in Mumbai by adding 408 residences to the market, of which 215 are for sale.
Similarly, Mahindra Lifespace Developers has collaborated with Livingstone Infra on a cluster redevelopment project in Mahalaxmi. With a GDV of INR 1,650 crore, this initiative aims to revitalise the area with modern housing and infrastructure.
With a significant project in Dahisar East, Arkade Developers is further growing its presence. The business has purchased land there that offers 676,000 square feet of saleable space and an estimated INR 1,700 crore in potential revenue. A property piece in Goregaon West has also been acquired by the developer, who anticipates earning INR 2,000 crore from the planned development.
One of the most ambitious redevelopment projects currently underway is the Dharavi Redevelopment Project. With the government approving the Adani Group’s plan to commence construction on a 6.4-acre railway land parcel, the initiative seeks to rehabilitate over a million residents while incorporating commercial developments across nearly 600 acres. Completion is expected within seven years.
Another massive slum redevelopment project in Worli has been launched, relocating 3,200 households over a 17-acre area. The construction will greatly improve the area’s living conditions and infrastructure by including a hotel, a shopping centre, and residential buildings.
To address stalled redevelopment efforts, the Maharashtra Housing and Area Development Authority (MHADA) has issued around 1,200 notices to developers and housing societies across Mumbai. This step aims to accelerate urban renewal and ensure timely project completion.
These group initiatives, which centre on improving urban living standards, easing housing shortages, and updating infrastructure, are a reflection of Mumbai’s continuous evolution.
Source: Prop News Time
