Mumbai’s 19th-century Zaoba Wadi in Thakurdwar is set for a major transformation, with its redevelopment finally moving ahead after more than 15 years of delays. The 2.5-acre site is now planned to feature a 325-metre residential tower, bringing a major high-rise development to the historic neighbourhood.
The redevelopment involves Godrej Properties, Man Infraconstruction Ltd (MICL) and Shreepati Group and is expected to benefit around 625 existing tenants living in the chawls and low-rise structures at Zaoba Wadi. Under the plan, eligible occupants will receive homes of around 550 sq ft, compared with their existing units of approximately 150-200 sq ft.
The project had remained stalled since Shreepati Group acquired the development rights in 2011, with funding and execution challenges delaying its progress. Momentum returned after MICL began discussions in 2024 and formally joined the project in 2025 as development manager, overseeing construction management and marketing.
The proposed development has also grown in scale over the years. It was initially planned as an ultra-luxury tower of more than 800 feet, or around 244 metres, but approval has now been secured for a 325-metre structure.
Godrej Properties has joined the project, which has an estimated revenue potential of around Rs 6,000 crore. MICL will continue its participation through a revenue-sharing arrangement and is expected to recover its existing investment of around Rs 300 crore. The project will be jointly branded by the partners.
With initial permissions secured and efforts underway to consolidate the remaining development rights, the Zaoba Wadi project is now moving closer to execution, marking a significant redevelopment of one of Thakurdwar’s historic residential precincts.
Source: Hindustan Times
