Mumbai real estate is as saturated as it can get. The country’s financial capital has long been finding it a challenge to reinvigorate its real estate market, with prime micromarkets having limited availability and congestion becoming a very real issue.
Redevelopment was a natural answer to this problem.
Redevelopment in the Mumbai real estate market has been the only way to deal with a densely crowded city that is also rapidly growing.
A Knight Frank report says that ~44,277 apartments worth ₹1.30 lakh crore are meant to enter the market through redevelopment by 2030.
Just in the last year alone, redevelopment has brought forth plenty of new projects, most of them falling under the Slum Rehabilitation Act.
In a market that is also pricing homebuyers out of their own cities, there are affordable housing projects coming out of redevelopment as well. On the same vein, senior residents especially, are being priced out of their 30+ year-old homes because of redevelopment.
Here are the projects we discuss in this blog:
- Dharavi Redevelopment Project
- Lokhandwala Complex Redevelopment
- Sattva's Entry into the Redevelopment Market
- Societies Coming Together to Redevelop Their Old Buildings
- Chhatrapati Shivaji Complex Redevelopment
Top 5 Redevelopment Projects in Mumbai Real Estate Today
We’ve collated a list of the most popular redevelopment projects in Mumbai real estate right now that have caused ripples in the market. Some are assumed to alter Mumbai’s skyline entirely and some are going to change how Mumbai looks and feels.
There are different types of redevelopment, and one of the most notable ones would be slum redevelopment. Other types include apartments wherein developers or societies come together to renovate their buildings.
To be eligible for redevelopment, the buildings have to be 30+ years old or be declared unusable by the BMC.
Dharavi Redevelopment Project
As an ambitious project by the Department of Housing, Government of Maharashtra, this is meant to redevelop the Dharavi Notified Area (DNA) by rehabilitating the slum dwellers into well-planned townships.
The Government of Maharashtra handed over 540 acres of land in the Mumbai Metropolitan Region (MMR) to Adani Group and formed Navbharat Mega Developers Pvt Ltd (NMDPL). They are allowed incentive floor space index (FSI) and permission to sell in the open market.
Here are some details on the project:
- Rehabilitate 10 lakh residents with 1.25-1.5 lakh new homes
- 10 crore sq ft of construction for rehabilitation
- 14 crore sq ft to give for sale in the open market
- 7-year deadline to construct the homes required for rehabilitation
- 17-year timeline for full completion
There’s an ongoing survey to determine eligibility and those deemed ineligible for rehabilitation within Dharavi will be shifted to rental complexes outside Dharavi.
256 acres of salt pan land in Mulund, Kanjurmarg and Bhandup have been allocated for this purpose.
Source: The Hindustan Times
Lokhandwala Complex Redevelopment
Located in Andheri West, it is a self-contained luxury housing colony built in 1984-85. It was a joint project between builders like Lokhandwala, Hiranandani, Walawalkar, DLH, DGS, Purvankara and Rustomjee, amongst others. The complex’s name was taken after the first builder, Lokhandwala.
Floods, repair costs and lack of lifts, apart from its general decaying condition due to ageing pushed the residents to eventually raze their homes in mid-2025.
Here is what the new space will bring:
- 35% to 110% extra area in their new living spaces
- Modern amenities and proper lifts
- Appropriate flood proofing
- Brisk completion in 3-4 years
However, a significant downside that residents note is that retired or senior citizens who live alone might find it challenging to manage such bigger spaces by themselves. Amenities will also bring maintenance costs and they might also get priced out of their homes.
Source: The Times of India
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Sattva’s 8M Sq Ft Redevelopment
With 6 residential and commercial projects, Sattva has 8 million sq ft of redevelopment construction in the MMR. These projects are with the Slum Rehabilitation Authority (SRA) and the Maharashtra Housing and Area Development Authority (MHADA).
They will be based in Parel (Sewri), Prabhadevi, Goregaon East, Vile Parle West, Powai and the Bandra Kurla Complex (BKC).
The projects will provide:
- 2500 rehabilitation homes
- 2000 newly built residences
- Estimated development value of ₹11,000 crore
These residences or SRA towers will be part of a redevelopment project renewing 16,000 ageing structures that require redevelopment to be safe for occupancy.
Starting in 2026, Sattva aims to complete these buildings by 2032.
Source: Construction Week India, The Economic Times
Redevelopment by Residents & Societies
In February 2026, Mid-day News covered a story on how the BMC had stopped issuing NOCs for socities in Malad and Kandivli due to their buildings being within a defence land area.
While not an isolated incident at all, this story is a great case to elucidate the need for redevelopment as housing begins to crumble and are deemed unsafe.
In Malad and Kandivli especially, there were many buildings that were razed because they fell in the C1 category (Dilapidated; needs to be vacated immediately and demolished).
Such situations necessitate redevelopment.
Source: Mid-day News
Chhatrapati Shivaji Complex Redevelopment
Built by the Maharashtra Housing and Area Development Authority (MHADA), it is one of the largest joint or cluster redevelopment projects where 53 societies are coming together to redevelop their 26-year old housing complex.
It is also located in the MHADA layout and is spread over 12 acres. They house 3,488 families in 225 sq ft flats.
They are in a horrible condition with a clear lack of good infrastructure. Residents state that the internal road network is very narrow and that it creates both logistical and safety concerns.
Here are some details on this project:
- New 610 sq ft apartments that were previously just 225 sq ft
- Residents also requested a monthly rent of ₹25,000 in the first year, ₹27,500 in the second year and ₹30,000 in the third year
- Wider roads, better infrastructure and amenities
Chhatrapati Shivaji complex is also a project that was created out of necessity as the older buildings’ conditions posed safety risks. Most societies opt for cluster redevelopment because it means bigger spaces for all residents as compared to having a smaller land parcel.
Source: The Hindustan Times
Final Thoughts
Redevelopment, in any form it comes, is driven by necessity. The same goes for vertical growth in Mumbai real estate, as space constraints are a valid concern.
Out of many redevelopment projects, we chose a few that showed the essence of the market at the moment, that is SRA towers or slum rehabilitation projects or societies redeveloping their buildings because of genuine safety concerns.
Most, if not all, projects follow a system of giving developers an incentive FSI and permission to sell in the open market to build these apartments or complexes. Developers diligently participate in such bids because it is a rarity to have large land parcels in Mumbai.
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