Modis Navnirman Wins Rs 1.6 bn Redevelopment Mandate in Mumbai

10 Mar 2026 CW Team

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.

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