Kalpataru Ltd. signs cluster redevelopment project in Kandivali East with ~₹1,250 crore GDV potential Mumbai
Kalpataru Limited, a leading developer in Mumbai Metropolitan Region (MMR) today announced the signing of a large cluster redevelopment project comprising of five adjacent societies in Ashok Nagar, Kandivali East, Mumbai (“Ashokgram Cluster”). The project spans ~2.8 acres of prime land with a free sale potential of ~0.37 msf carpet area and estimated Gross Development Value (GDV) of around ₹ 1,250 cr.
Reflecting on the milestone, Mr. Parag Munot, Managing Director of Kalpataru Ltd. stated: “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 noted: “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.”
Building on its deep roots in Kandivali East where Kalpataru has already delivered six landmark developments – namely Kalpataru Jharokha, Kalpataru Vatika, Kalpataru Gardens, Kalpataru Tower, Kalpataru Avenue and Kalpataru Vienta; this project further reinforces its leadership and presence in the locality. With a legacy spanning more than five decades, Kalpataru Ltd. stands as a pioneer in Mumbai’s redevelopment landscape. Following the announcement of a significant ₹1,400 crore redevelopment project in Andheri East earlier this March, the company continues to expand its portfolio and strengthen its presence within Mumbai’s key micro-markets.
