NEW DELHI: Birla Estates and Arvind SmartSpaces are entering Mumbai’s society redevelopment market with distinct residential projects in Khar West and Santacruz, as both companies aim to seize redevelopment opportunities in the city’s limited land market.
Birla Estates (BEPL), a subsidiary of Aditya Birla Real Estate, is set to redevelop the Anmol Co-operative Housing Society and Bhartiya Bhavan Co-operative Housing Society in Khar West, in collaboration with Parinee Real Estate Builders.
The project encompasses a saleable area of approximately 2.9 lakh sq ft, with a projected revenue potential of around ₹1,700 crore, marking the company’s debut in Mumbai’s redevelopment sector.
In a separate initiative, Arvind SmartSpaces (ASL), under the Lalbhai Group, has commenced a redevelopment project in Santacruz. This project’s anticipated saleable carpet area is 42,000 sq ft, with a revenue potential of roughly ₹300 crore.
This development signifies Arvind SmartSpaces’ entry into the society redevelopment field, bolstering its footprint in Mumbai. The addition elevates the company’s total new business development potential for the year to ₹3,140 crore.
