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Pan-India developers 'redevelop' in Mumbai
Mint Mumbai
|December 10, 2024
Developers are drawn to the massive opportunity also in the SRA space
Developers from across India are seizing opportunities to redevelop Mumbai's old, dilapidated buildings, housing societies and slums to expand their footprint in the land-starved financial capital.
In May 2022, Bengaluru-based Prestige Group launched Daffodils, an uber luxury redevelopment project in Pali Hill, Bandra West with a carpet area of 1.2 lakh sq. ft. The project has sold close to 70% residences since launch. Puravankara Ltd also secured redevelopment rights for two housing societies in Mumbai last year, with a gross development value (GDV) of ₹1,500 crore. In September, the group acquired rights for another project-Miami Apartments at Breach Candy, entering the uber-luxury south-Mumbai market.
This story is from the December 10, 2024 edition of Mint Mumbai.
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