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Modis Navnirman has been appointed to redevelop New Chitra Co-operative Housing Society in Kandivali West, Mumbai. The redevelopment will replace an over three-decade-old 14-storey residential building with a new mixed-use tower comprising residential and commercial spaces. The project will be developed on a land parcel of about 2,300 square metres and is expected to generate a gross development value of around INR 160 crore. The redevelopment reflects the increasing focus on upgrading ageing housing societies in Mumbai's suburbs while improving infrastructure, safety standards and overall housing quality for existing residents.
Modis Navnirman has been appointed as the developer for the redevelopment of New Chitra Co-operative Housing Society in Kandivali West, Mumbai. The project involves redeveloping an existing residential building and replacing it with a new mixed-use development that will include both residential units and commercial spaces. Advertisement
The existing building, which was constructed more than three decades ago, currently stands at 14 storeys. As part of the redevelopment plan, the structure will be demolished and replaced with a new tower designed to accommodate modern residential units along with commercial components within the same development.
The project will be developed on a land parcel of around 2,300 square metres. According to project estimates, the redevelopment is expected to generate a gross development value of approximately INR 160 crore.
Redevelopment projects such as this typically involve rebuilding ageing cooperative housing societies while providing existing residents with newly constructed apartments that meet current building standards. The new structure is expected to incorporate upgraded infrastructure, improved layouts and modern construction features compared to the existing building, which has been in use for several decades.
Kandivali West has been witnessing a steady rise in housing society redevelopment activity as many buildings constructed in the 1980s and early 1990s are reaching structural ageing. Redevelopment allows societies to upgrade safety systems, improve building infrastructure and make better use of limited land in Mumbai's land-constrained housing market.
For developers, society redevelopment has become a key development route in Mumbai because large vacant land parcels are scarce within the city. Instead of acquiring new land, developers partner with cooperative housing societies to redevelop older buildings and create new residential supply within established neighbourhoods.
The Kandivali project also adds to Modis Navnirman's growing redevelopment portfolio across Mumbai's western suburbs. Earlier this year, the company was appointed as the developer for the redevelopment of BOI Staff Sheetal Co-operative Housing Society located at Ramnagar on S.V. Road in Borivali West. That redevelopment project is spread across a land parcel of about 3,924.91 square metres and carries an estimated gross development value of around INR 250 crore.
The Borivali mandate marked another expansion of the developer's redevelopment pipeline in suburban Mumbai. Projects in areas such as Borivali, Kandivali and Malad have become an important part of redevelopment activity as these locations already have established residential communities and strong housing demand.
With the addition of the Kandivali West project, the company continues to expand its presence in the society redevelopment segment, which has become one of the primary drivers of real estate development in Mumbai's suburban markets.
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