Runwal Enterprises has secured rights to redevelop two prime land parcels in south Mumbai’s Marine Lines and Bandra, with a combined gross development value exceeding Rs 50 billion.

Both developments will be executed under the cluster redevelopment framework outlined in Regulation 33(9) of the Development Control and Promotion Regulations, a state-led initiative aimed at accelerating urban renewal and infrastructure growth. The developer plans to invest around Rs 25 billion across the two projects, involving more than 600 housing society members, and is currently in the process of securing government approvals.

The Marine Lines project, located at a sea-facing site near Saifee Hospital, will have a development potential of about 0.5 million sq ft. The Bandra project, spread over 2.5 acres, is expected to generate substantial value from its free-sale components. Construction on both projects is slated to begin in the next financial year.

Subodh Runwal, Director at Runwal Enterprises, said the agreements mark the redevelopment of two private housing societies, including the revival of the Marine Lines project, which had been stalled for over a decade.