+
Modis Navnirman Wins Rs 1.6 bn Redevelopment Mandate in Mumbai
Real Estate

Modis Navnirman Wins Rs 1.6 bn Redevelopment Mandate in Mumbai

Modis Navnirman Limited has been appointed as the developer for the redevelopment of New Chitra Co-operative Housing Society Ltd, one of Mumbai's earliest high-rise residential towers in Kandivali West. The existing 14-storey structure, completed three decades ago, will be demolished to make way for a modern premium commercial-cum-residential tower designed to meet contemporary standards of safety, sustainability and urban lifestyle.

The project occupies a land parcel of about 2,300 sq. metres and is expected to deliver a Gross Development Value (GDV) of approximately Rs 1.6 billion (bn) on completion. The proposed development will include thoughtfully planned residences, carefully curated commercial spaces and state-of-the-art amenities, offering a future-ready environment for occupants and investors. The company noted that the mandate aligns with its focus on transforming ageing assets into premium developments.

The redevelopment will materially improve living standards for existing society members by providing larger, well designed homes with modern layouts, improved specifications, dedicated parking and upgraded common infrastructure. The design places a strong emphasis on sustainability and resilience and will incorporate energy-efficient systems, rainwater harvesting, fire-safety enhancements and smart building technologies. These measures are intended to align the project with current environmental and structural norms.

Situated in Kandivali West, the site benefits from strong social infrastructure and improved connectivity, making the development attractive to end users and investors. The company said the appointment reinforces its growing redevelopment portfolio across Mumbai and underscores its strategy of partnering with housing societies to unlock value in ageing properties. The developer indicated that the mandate reflects trust placed by societies and the intent to execute responsibly while focusing on design excellence, transparency and timely delivery.

Modis Navnirman Limited has been appointed as the developer for the redevelopment of New Chitra Co-operative Housing Society Ltd, one of Mumbai's earliest high-rise residential towers in Kandivali West. The existing 14-storey structure, completed three decades ago, will be demolished to make way for a modern premium commercial-cum-residential tower designed to meet contemporary standards of safety, sustainability and urban lifestyle. The project occupies a land parcel of about 2,300 sq. metres and is expected to deliver a Gross Development Value (GDV) of approximately Rs 1.6 billion (bn) on completion. The proposed development will include thoughtfully planned residences, carefully curated commercial spaces and state-of-the-art amenities, offering a future-ready environment for occupants and investors. The company noted that the mandate aligns with its focus on transforming ageing assets into premium developments. The redevelopment will materially improve living standards for existing society members by providing larger, well designed homes with modern layouts, improved specifications, dedicated parking and upgraded common infrastructure. The design places a strong emphasis on sustainability and resilience and will incorporate energy-efficient systems, rainwater harvesting, fire-safety enhancements and smart building technologies. These measures are intended to align the project with current environmental and structural norms. Situated in Kandivali West, the site benefits from strong social infrastructure and improved connectivity, making the development attractive to end users and investors. The company said the appointment reinforces its growing redevelopment portfolio across Mumbai and underscores its strategy of partnering with housing societies to unlock value in ageing properties. The developer indicated that the mandate reflects trust placed by societies and the intent to execute responsibly while focusing on design excellence, transparency and timely delivery.

Related Stories

Gold Stories

Next Story
Infrastructure Urban

NABARD Holds Seminar on Vigilance, Integrity and Good Governance

National Bank for Agriculture and Rural Development (NABARD) organised a seminar on “Vigilance: Strengthening Integrity and Good Governance” on 25 August 2026 at its Head Office in Mumbai as part of the ongoing Vigilance Awareness Campaign 2026 being observed from 17 August to 16 November 2026, with the theme “Probity for Prosperity."" The seminar was graced by Suresh N Patel, Former Central Vigilance Commissioner, Government of India, as the chief guest and keynote speaker.  The programme was attended by G S Rawat, Deputy Managing Director, Dr Ajay K Sood, Deputy Managing Dire..

Next Story
Equipment

XCMG Unveils World's First 14,000-Ton Ring Crane for Heavy Lifting

XCMG has announced that the first main unit of the world's first 14,000-ton ring crane has rolled off the production line, marking a historic breakthrough in ultra-heavy lifting technology. Jointly developed by XCMG and Sinopec Heavy Lifting & Transportation Co., Ltd., the crane will be the largest-capacity ring crane ever built, setting a new benchmark for major construction projects worldwide.The crane features a modular configuration comprising two main units that work in tandem. The first main unit has completed final assembly and can independently perform lifting operations. Once both..

Next Story
Infrastructure Urban

Thriveni Logistics orders 200 tip trailers from Jagdamba trailers

Jagdamba Trailers (JTPL), one of India’s growing trailer manufacturers, has secured a significant order for 200 Tip Trailers from Thriveni Transport and Logistics Pvt. Ltd., a leading mining and logistics company serving operations across India and overseas.The order, placed for iron ore transportation, is a major milestone for JTPL, particularly as the company secured the business after competing with more than 10 established trailer manufacturers. It also strengthens an already successful relationship between the two companies. Approximately one and a half years ago, Thriveni Transport and..

Advertisement

Subscribe to Our Newsletter

Get daily newsletters around different themes from Construction world.

STAY CONNECTED

Advertisement

SPECIAL OFFER
QR Code