Kalpataru secures Rs 1,400 crore redevelopment project for 3-acre Mumbai housing society

Listed realty developer Kalpataru Ltd has secured the rights to redevelop a large housing society spread over a 3-acre land parcel in Mumbai suburb Andheri West, in a project with an estimated gross development value (GDV) of over Rs 1,400 crore.

The redevelopment involves Shree Mahalakshmi Cooperative Housing Society located off Veera Desai Road with existing 242 members.

The project is expected to involve construction of around 6 lakh sq ft. Existing members will receive about 1.65 lakh sq ft of built-up area as part of the rehabilitation component.


Under the proposed plan, the development will comprise seven residential wings with 22 habitable floors. The project is expected to include 350 apartments for sale in addition to the rehabilitation units for existing residents.

Redevelopment projects have emerged as a key supply pipeline in Mumbai, particularly in established suburbs such as Andheri where the availability of large greenfield land parcels is limited. Developers are increasingly focusing on ageing housing societies to launch new residential projects.

Mumbai’s western suburbs micro-market has seen steady residential demand driven by metro connectivity and proximity to commercial hubs in western and central parts of the city. Redevelopment projects typically replace older buildings with new residential towers while providing bigger apartments and amenities for existing society members.