Mumbai: Kalpataru Ltd on Monday announced the signing of a cluster redevelopment project comprising five adjacent housing societies in Ashok Nagar, Kandivali East, Mumbai.
According to the company, the project, referred to as the “Ashokgram Cluster,” spans around 2.8 acres and offers a free sale potential of approximately 0.37 million square feet of carpet area. The project is estimated to have a Gross Development Value (GDV) of around ₹1,250 crore.
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Commenting on the development, Mr. Parag Munot, Managing Director of Kalpataru Ltd, said, “At Kalpataru, we view redevelopment as a transformative journey that breathes new life into existing communities. Our latest venture in Kandivali East is envisioned as a future-ready neighbourhood that seamlessly blends its local heritage with world-class planning, expansive green spaces, and modern amenities. We are honoured to partner with the local community to set a new benchmark for high quality, sustainable urban living while preserving it’s unique character.”
He further stated, “This cluster redevelopment, envisaged as a residential development with high street retail, is strategically positioned within a thriving micro-market, offering residents excellent connectivity to major road networks and metro lines. The project’s appeal is further bolstered by its proximity to a robust social infrastructure, including premier educational institutions, leading healthcare centres, and vibrant retail and business hubs.”
The company said the project strengthens its presence in Kandivali East, where it has previously delivered six developments: Kalpataru Jharokha, Kalpataru Vatika, Kalpataru Gardens, Kalpataru Tower, Kalpataru Avenue and Kalpataru Vienta.
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Kalpataru noted that the latest signing follows the announcement of a redevelopment project in Andheri East with an estimated GDV of ₹1,400 crore made earlier this year.
With a presence spanning more than five decades, the company continues to expand its redevelopment portfolio across key micro-markets in Mumbai.
