+
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

Next Story
Real Estate

Heena Lalwani Buys Rs 1.13 Billion Juhu Apartment

Heena Lalwani, promoter of Aatman Innovations Private Limited, has purchased a luxury apartment worth Rs 1.13 billion in Mumbai’s upscale Juhu locality, according to property registration documents accessed by Zapkey.com.The 9,862 sq ft apartment, located on the 10th floor of Lodha Developers’ Avalon Tower, was acquired at Rs 115,000 per sq ft and comes with five car parking spaces. The deal, registered on 18 August 2025, also included the payment of Rs 68 million in stamp duty and a Rs 30,000 registration fee.Lodha Developers did not respond to queries regarding the transaction, while the..

Next Story
Real Estate

Godrej Buys KPHB Land for Rs 7 Billion in E-Auction

An acre of prime land in Kukatpally Housing Board (KPHB), Hyderabad, was auctioned for Rs 7 billion, with the Telangana Housing Board generating Rs 5.47 billion from the sale of 7.8 acres through e-auction on 20 August 2025.The auction notification was issued last month, attracting bids from Godrej Properties, Aurobindo Realty, Prestige Estates, and Ashoka Builders, according to Board vice-chairman V.P. Gautham. With an offset price of Rs 4 billion per acre, the three-hour auction saw 46 bid increases, before Godrej Properties acquired the land.Revenue generated from the auction will be utilis..

Next Story
Real Estate

HMDA to Auction 93 Prime Plots in September

The Hyderabad Metropolitan Development Authority (HMDA) is preparing to conduct a three-day auction of prime open plots across Hyderabad, Rangareddy, and Medchal-Malkajgiri districts this September.According to official reports, the e-auction will take place on 17, 18, and 19 September, offering 93 plots. Of these, 70 are located in the Bachupally HMDA layout, with the remainder spread across Turkayamjal, Kokapet, Poppalguda, Chandanagar, Bairagiguda, Gandi Maisamma, Suraram, Medipally, and Bachupally village.The highest upset price has been fixed at Rs 175,000 per square yard for a land parce..

Advertisement

Subscribe to Our Newsletter

Get daily newsletters around different themes from Construction world.

STAY CONNECTED

Advertisement

Advertisement

Advertisement

Talk to us?