The Brihanmumbai Municipal Corporation Improvement Committee approved the leasing of a 25,543 sq m plot at Century Mills in Mumbai for 30 years to Peddar Realty for redevelopment at Rs 13,210 million (mn), equivalent to Rs 13.21 billion (bn). The committee, chaired by Sandhya Vipul Doshi of the Shiv Sena (Shinde), said the redevelopment will facilitate rehabilitation of workers' families and create additional housing opportunities. Doshi was elected unopposed on February 23 and the committee oversees BMC-owned plots and properties.

Peddar Realty emerged as the highest bidder during the tender, offering Rs 13,510 million against the BMC quoted Rs 13,480 million, only higher by zero point two two per cent. Other firms in the race included K. Raheja Corp, Keystone Realtors and Shapoorji Pallonji Real Estate. The redevelopment plan covers the workers' colony of 23 buildings, 476 residential tenements and 10 shops.

The builder will be responsible for rehabilitating residents with a minimum carpet area of 405 sq ft for eligible households and for developing commercial residential units as part of the project. Opposition councillors from Shiv Sena (UBT) and Congress argued that the prime parcel should be retained for public housing and to generate long-term public value rather than handed to private developers. One opposition leader warned that changes to reservation status appear driven by personal agendas and another urged that the frequency of approvals over the last six months suggested an inclination to privatise.

Concerns were also raised about the legality of the approval and whether the special regulatory framework for cotton textile mill lands under Regulation 35 of the Development Control and Promotion Regulations 2034 has been duly considered. Historically, the plot was leased in 1927 to Century Spinning and Manufacturing Ltd for 28 years for employee housing and a later ownership dispute ended after a Supreme Court judgment on January 7, 2025 that transferred the land to the BMC. The committee approval will proceed through the statutory and regulatory processes required for redevelopment.