MHADA Issues Kamathipura Redevelopment Tender in South Mumbai

16 Jun 2025 CW Team

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

Real Estate

07 Jul 2026

Pecan Realty Completes Rs 1.5 Billion Transactions

Pecan Realty has recently completed four institutional transactions worth over Rs 1.5 billion over the past two years, strengthening its position as an execution-led real estate platform. The deals include resolution-led acquisitions, structured finance transactions and capital partnerships across its development portfolio.The transactions covered acquisitions through the National Company Law Tribunal process and helped provide repayment or exits to both private and public sector lenders. The company said the deals demonstrate its ability to resolve complex project situations, work with instit..

SNN Estates Expands North Bengaluru Housing Project

SNN Estates has announced an expansion of its SNN Estates Felicity residential project in North Bengaluru following strong buyer demand, with 75 per cent of the first-phase inventory sold within three days of launch.The developer will add 76 apartments in the new phase, taking the project's estimated revenue potential to around Rs 1,000 crore upon completion of Phase 2.Spread across 6.5 acres in Rachenahalli, near Manyata Tech Park, the project comprises 604 apartments in 1.5, 2, 2.5, 3 and 4 BHK configurations. The development includes a 50,000-sq-ft clubhouse with amenities such as sports co..

SCG Drives ASEAN Industrial Transformation Strategy

SCG is strengthening its focus on ASEAN as a key growth region by advancing industrial transformation, enhancing competitiveness and building resilient regional value chains. Thammasak Sethaudom, President and Chief Executive Officer, SCG, highlighted the need for industries to continuously develop capabilities, strengthen resilience and deepen regional cooperation to achieve sustainable long-term growth.SCG views ASEAN as an important growth engine alongside China, supported by favourable demographics, trade connectivity and investment flows. With ASEAN’s GDP projected to grow by around 4.7..