MHADA Issues Kamathipura Redevelopment Tender in South Mumbai
Real Estate

MHADA Issues Kamathipura Redevelopment Tender in South Mumbai

The Maharashtra Housing and Area Development Authority (MHADA) has floated a tender for the long-awaited cluster redevelopment of Kamathipura in South Mumbai. The project will be undertaken through MHADA’s Mumbai Building Repairs and Reconstruction Board.

The selected developer will receive rights to develop approximately 5.67 lakh square metres (6.1 million square feet) of free-sale area. As part of the agreement, the bidder must also construct rehabilitation units for existing tenants and hand over 44,000 square metres of land to MHADA to expand its affordable housing stock.

The 34-acre land parcel houses 8,001 residential and commercial tenants, many of whom reside in ageing, dilapidated “cess buildings.” In addition to housing, the redevelopment plan includes commercial spaces and recreational facilities.

After delays stemming from compensation issues for the area’s roughly 800 private landowners, the state government approved a finalised compensation scheme in July 2024. Under this, landowners with 50 square metres of land will be allotted a 500 sq ft flat, with additional units allocated for larger holdings.

Property market sources indicate that the area’s prevailing rates range from Rs 40,000 to Rs 45,000 per sq ft. Based on this, the free-sale component of the project could generate up to Rs 30,000 crore in revenue.

While the project may attract large, equity-backed developers, challenges remain. These include the need to relocate commercial activities, the permanent nature of most existing structures, and the social impact of tenant displacement. Additionally, the area’s limited infrastructure and road width could pose logistical difficulties, despite improved metro connectivity expected in the coming years.

News source: Money Control

The Maharashtra Housing and Area Development Authority (MHADA) has floated a tender for the long-awaited cluster redevelopment of Kamathipura in South Mumbai. The project will be undertaken through MHADA’s Mumbai Building Repairs and Reconstruction Board.The selected developer will receive rights to develop approximately 5.67 lakh square metres (6.1 million square feet) of free-sale area. As part of the agreement, the bidder must also construct rehabilitation units for existing tenants and hand over 44,000 square metres of land to MHADA to expand its affordable housing stock.The 34-acre land parcel houses 8,001 residential and commercial tenants, many of whom reside in ageing, dilapidated “cess buildings.” In addition to housing, the redevelopment plan includes commercial spaces and recreational facilities.After delays stemming from compensation issues for the area’s roughly 800 private landowners, the state government approved a finalised compensation scheme in July 2024. Under this, landowners with 50 square metres of land will be allotted a 500 sq ft flat, with additional units allocated for larger holdings.Property market sources indicate that the area’s prevailing rates range from Rs 40,000 to Rs 45,000 per sq ft. Based on this, the free-sale component of the project could generate up to Rs 30,000 crore in revenue.While the project may attract large, equity-backed developers, challenges remain. These include the need to relocate commercial activities, the permanent nature of most existing structures, and the social impact of tenant displacement. Additionally, the area’s limited infrastructure and road width could pose logistical difficulties, despite improved metro connectivity expected in the coming years.News source: Money Control

Related Stories

Gold Stories

Next Story
Products

Koemmerling opens Navi Mumbai experience centre

Koemmerling, a brand of the profine Group, has expanded its presence in the Mumbai metropolitan region with the opening of a new experience centre in Navi Mumbai and launched its Allure S46 minimal sliding door system for the Indian market.Located in CBD Belapur, the facility was inaugurated by Peter Mrosik, Owner and CEO, profine Group, along with Farid Khan, Chairman and Managing Director, profine India, and Kamal Bajaj, CEO, profine India.The company said the new centre will showcase its portfolio of uPVC and aluminium window and door systems to architects, developers and homeowners.The ina..

Next Story
Products

India's waterproofing market nears Rs 150 bn milestone

India's waterproofing industry is approaching a market size of Rs 150 billion and is expected to surpass the $2 billion milestone, according to speakers at the 2nd India International Waterproofers Conference & Expo 2026 organised by the Waterproofers Association of India (WAI) in New Delhi.The two-day event brought together more than 20 speakers, 55 international delegates and 53 exhibition booths, with discussions focusing on climate-resilient construction, advanced waterproofing technologies and international collaboration.Inaugurating the event, Durga Shanker Mishra, former Secretary, ..

Next Story
Real Estate

Dilip Buildcon Q1 FY27 Revenue at Rs 23.78 billion

Dilip Buildcon Limited reported consolidated revenue from operations of Rs 2,378 crore in Q1 FY27, along with EBITDA of Rs 429 crore and profit after tax of Rs 128 crore.Consolidated EBITDA margin stood at 18.1%, improving from 17.1% in Q4 FY26. On a standalone basis, revenue from operations was Rs 1,930 crore, EBITDA stood at Rs 199 crore and PAT was Rs 39 crore, with an EBITDA margin of 10.3%.The company’s order book stood at Rs 27,691 crore as of 30 June 2026, compared with Rs 28,830 crore as of 31 March 2026. Roads and highways accounted for 17.1% of the order book, irrigation and water ..

Advertisement

Subscribe to Our Newsletter

Get daily newsletters around different themes from Construction world.

STAY CONNECTED

Advertisement