Modis Navnirman Secures ₹160 Crore Redevelopment Project in Mumbai

Modis Navnirman Limited has announced its appointment as the developer for the redevelopment of the New Chitra Co-operative Housing Society Ltd. in Kandivali West, Mumbai. The project involves the demolition of the existing 14-storey structure, originally constructed over three decades ago, to make way for a new commercial-cum-residential tower. The redevelopment is part of the company’s strategy to transform aging residential properties into modern, high-quality developments.

The redevelopment project is estimated to generate a Gross Development Value (GDV) of approximately ₹160 crore. This financial figure reflects the anticipated value of the completed project, which will include both residential and commercial components. The project is part of Modis Navnirman’s ongoing efforts to expand its redevelopment portfolio in Mumbai, a city with a significant demand for modern housing solutions.

The scope of the redevelopment includes the construction of a modern tower designed to meet contemporary standards of safety, sustainability, and urban lifestyle. The new development will feature thoughtfully planned residences, curated commercial spaces, and state-of-the-art amenities. The project will incorporate energy-efficient systems, rainwater harvesting, fire-safety enhancements, and smart building technologies. These features are aligned with current environmental and structural norms, ensuring a future-ready environment for both occupants and investors.

The redevelopment of the New Chitra Co-operative Housing Society Ltd. is strategically located in Kandivali West, a rapidly evolving residential and commercial corridor in Mumbai. The area benefits from strong social infrastructure and seamless connectivity, making it an attractive destination for both end users and investors. The project aims to enhance the quality of living for existing members, who will receive larger, well-designed homes with modern layouts, improved specifications, dedicated parking, and upgraded common infrastructure.

The timeline for the project has not been explicitly stated in the filing. However, the redevelopment process will involve multiple stages, including demolition, construction, and handover of the new units. Modis Navnirman Limited will oversee the entire process, ensuring compliance with regulatory requirements and timely delivery of the project.

Modis Navnirman Limited is a redevelopment-focused real estate developer with a strong presence across Mumbai. Founded in 2010, the company specializes in transforming aging residential and mixed-use properties into modern, high-quality developments. Modis Navnirman emphasizes thoughtful planning, engineering excellence, and disciplined execution in its projects. The company continues to set benchmarks in design, transparency, and timely delivery, reinforcing its commitment to delivering value to residents and stakeholders.