Kalpataru Bags ₹1,400 Cr Andheri West Redevelopment Project

• Kalpataru secures redevelopment rights for a 3-acre housing society in Andheri West

• Project estimated gross development value exceeds ₹1,400 crore

• Around 350 new apartments planned along with rehabilitation homes for existing residents

Mumbai: Realty developer Kalpataru Ltd. has secured the redevelopment rights for a major housing society in Andheri West, one of Mumbai’s most sought-after residential locations. The project, spread across a 3-acre land parcel, has an estimated gross development value (GDV) of over ₹1,400 crore.

The redevelopment will transform Shree Mahalakshmi Cooperative Housing Society, located off Veera Desai Road, into a modern residential complex. The society currently has 242 members, who will receive upgraded homes as part of the rehabilitation component.

According to project details, the redevelopment will involve construction of around 6 lakh square feet of built-up area. Of this, approximately 1.65 lakh square feet will be allocated for the rehabilitation of existing residents.

The new development is planned to include seven residential wings, each rising up to 22 habitable floors. In addition to homes for existing society members, the project will also offer around 350 apartments for open market sale, significantly increasing housing supply in the area.

Redevelopment projects have become one of the most important sources of new housing supply in Mumbai. Due to the limited availability of large vacant land parcels, developers are increasingly focusing on older housing societies to launch new residential projects.

Such redevelopment typically replaces ageing buildings with modern residential towers equipped with upgraded infrastructure and amenities. Existing residents benefit by receiving larger homes, better layouts, and improved facilities, while developers gain new inventory to sell in high-demand locations.

Mumbai’s western suburbs, especially Andheri, continue to witness steady demand for residential properties. The area benefits from metro connectivity, strong road infrastructure, and close proximity to key commercial hubs in western and central Mumbai.

With rising demand and limited land availability, redevelopment projects like this one are expected to play a significant role in shaping the future housing landscape of the city.

Kalpataru’s latest redevelopment deal further highlights the growing opportunities in Mumbai’s urban renewal segment as developers look to unlock value from ageing housing societies across prime neighbourhoods.

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