{"id":3214,"date":"2023-06-16T09:55:00","date_gmt":"2023-06-16T04:25:00","guid":{"rendered":"https:\/\/www.crematrix.com\/blog\/?p=3214"},"modified":"2026-05-22T12:10:33","modified_gmt":"2026-05-22T06:40:33","slug":"kalpataru-acquires-borivali-housing-society-redevelopment-project-with-%e2%82%b91300-crore-revenue-potential","status":"publish","type":"post","link":"https:\/\/www.crematrix.com\/blog\/kalpataru-acquires-borivali-housing-society-redevelopment-project-with-%e2%82%b91300-crore-revenue-potential\/","title":{"rendered":"Kalpataru Acquires Borivali Housing Society Redevelopment Project With \u20b91,300 Crore Revenue Potential"},"content":{"rendered":"\n

Mumbai\u2019s redevelopment market continues to see strong activity as developers target ageing housing societies across key suburban locations. In one such transaction, records obtained by CRE Matrix<\/a> show that Kalpataru has acquired the redevelopment rights for the Yoganand Co-Operative Housing Society in Mumbai\u2019s Borivali suburb. The developer is planning to invest around \u20b9700 crore to develop a residential project spanning over 7 lakh sq ft.<\/p>\n\n\n\n

Deal Details<\/strong><\/h2>\n\n\n\n

The redevelopment agreement was concluded on March 28 and is valued at nearly \u20b9177 crore. Stamp duty payments for the registration stood at around \u20b911.67 lakh.<\/p>\n\n\n\n

Spread across nearly 6 acres, the society currently consists of 11 residential buildings housing around 400 residents. Constructed around 1974, the existing apartments measure nearly 390 sq ft carpet area.<\/p>\n\n\n\n

Under the redevelopment plan, Kalpataru will provide upgraded apartments measuring around 603 sq ft carpet area to existing residents. In total, the developer will hand over more than 2.41 lakh sq ft carpet area under RERA regulations.<\/p>\n\n\n\n

The redevelopment project is expected to be completed within the next 3\u20134 years and is estimated to generate revenue of nearly \u20b91,300 crore based on current market assumptions.<\/p>\n\n\n\n

Borivali Continues to See Redevelopment Activity<\/strong><\/h2>\n\n\n\n

The transaction highlights the continued momentum in Mumbai\u2019s suburban redevelopment market, particularly in locations such as Borivali, where ageing housing societies are increasingly being redeveloped into larger modern residential projects.<\/p>\n\n\n\n

Limited land availability across Mumbai has encouraged developers to focus on redevelopment opportunities and joint development agreements as a key expansion strategy. Demand for upgraded housing, improved amenities, and better infrastructure continues to support redevelopment-led growth across established residential neighbourhoods.<\/p>\n\n\n\n

Kalpataru Expands Development Pipeline<\/strong><\/h2>\n\n\n\n

The Borivali redevelopment comes shortly after Kalpataru signed a revised revenue-sharing agreement with Indian Hume Pipe Company for a large mixed-use project in Pune\u2019s Vadgaon locality.<\/p>\n\n\n\n

The Pune project spans nearly 15 acres with development potential exceeding 2.3 million sq ft and estimated revenue potential of around \u20b92,500 crore, further strengthening Kalpataru\u2019s ongoing expansion across key property markets.<\/p>\n\n\n\n

The back-to-back transactions underline the broader trend of developers aggressively expanding through redevelopment and joint development opportunities across high-demand urban markets. With land scarcity continuing to impact metro cities, large redevelopment projects are increasingly emerging as a preferred growth strategy for leading real estate players.<\/p>\n\n\n\n

Elevate your decisions in real estate as a developer or broker with CRE Matrix\u2018s data-driven insights. Book a demo now<\/a>!<\/p>\n\n\n\n

Media Mention<\/strong><\/h2>\n\n\n\n

Economic Times:<\/strong> Kalpataru acquires redevelopment project in Mumbai\u2019s Borivali, to invest Rs 700 crore<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

Mumbai\u2019s redevelopment market continues to see strong activity as developers target ageing housing societies across key suburban locations. 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