The Maharashtra Housing and Area Development Authority (MHADA) expects its extensive redevelopment programme across Mumbai to attract investments worth nearly Rs 4 lakh crore through its Construction and Development Agency (C&DA) model, according to senior officials.
Spread across approximately 925 acres and comprising 11 redevelopment projects, the initiative is among the largest public-private urban renewal programmes in the country. The redevelopment pipeline is expected to deliver nearly 75,000 rehabilitation homes along with around 30,000 housing units for MHADA. More than 80,700 residents are projected to benefit from the large-scale transformation.
The programme has recently gathered momentum with MHADA inviting bids for three prominent cluster redevelopment projects. These include a 34.33-acre development at Adarsh Nagar in Worli, a 98.27-acre project at Bandra Reclamation, and a 73.89-acre redevelopment at Sardar Vallabhbhai Patel (SVP) Nagar in Andheri West.
The projects have drawn interest from several major corporate groups and real estate players, including Reliance Industries, Adani Group, Lodha Developers, and JSW Group, highlighting growing confidence in the redevelopment framework.
According to MHADA Vice President and Chief Executive Officer Sanjeev Jaiswal, the initiative is aimed at replacing ageing residential colonies while improving living standards in densely populated parts of Mumbai. The redevelopment strategy focuses on modernising outdated housing stock with minimal disruption to existing residents.
Under the C&DA model, private developers are selected to execute redevelopment projects, while MHADA continues to oversee implementation and protect the interests of occupants. The framework also includes provisions for transit rent during the construction period and corpus funds to support the long-term maintenance of newly developed housing complexes.
Industry observers view the participation of large business groups as a strong endorsement of the model, which combines private-sector execution capabilities with public-sector oversight. Along with rehabilitation and MHADA housing units, developers will also gain access to saleable residential and commercial inventory.
With multiple marquee projects moving into the bidding phase, MHADA’s redevelopment programme is expected to play a major role in reshaping Mumbai’s urban landscape, enhancing housing availability, and upgrading civic infrastructure across several key neighbourhoods.
Source: Prop News Time
