Lodha Developers: Adani, Reliance, Lodha, JSW bid for 206-acre Mumbai redevelopment projects, ETRealty
Realty developers Adani Properties, Reliance 4IR, Lodha Developers and JSW Realty & Infrastructure are among the real estate developers that have bid to redevelop three large housing colonies spread across over prime 206 acres of land in Mumbai’s key localities of Worli, Bandra Reclaimation and Andheri West.
The Maharashtra Housing and Area Development Authority (MHADA) on Tuesday opened technical bids for the projects spread over 98.27 acres at Bandra Reclamation, 73.89 acres at Sardar Vallabhbhai Patel (SVP) Nagar in Andheri West and 34.33 acres at Adarsh Nagar in Worli.
The Mumbai Housing and Area Development Board, a unit of MHADA, had floated tenders on April 8 for appointing construction and development agencies (C&DA) for the three cluster redevelopment projects. The last date for submission of bids was May 18.
For the Adarsh Nagar-Worli project, bids were submitted by Adani Properties, Lodha Developers and JSW Realty & Infrastructure.
In the Bandra Reclamation project, participation came from Lodha Developers, Adani Properties and JSW Realty & Infrastructure.
For the SVP Nagar redevelopment project in Andheri West, bids were submitted by Reliance 4IR Realty Development, Adani Properties and Hanura Realty.
These technical bids will undergo scrutiny based on criteria including financial capability, past project experience and other eligibility norms. Financial bids of technically qualified bidders will be opened subsequently and the developer with the most competitive proposal will be selected.
The projects are being implemented under MHADA’s C&DA model, under which developers undertake rehabilitation and redevelopment works for existing residents while monetising portions through free-sale components.
According to MHADA, all three projects provide for rent compensation during the transit period along with corpus funds for maintenance support for eligible residents.
The authority said the redevelopment projects aim to improve living standards through modern housing, upgraded civic infrastructure and planned urban development. Residents living in ageing colonies constructed decades ago are expected to benefit from safer and more spacious homes with improved amenities.
MHADA currently has 11 major redevelopment projects under the C&DA system across Mumbai, covering nearly 925 acres and expected to benefit around 80,747 residents.
The authority expects these projects to contribute significantly to Mumbai’s urban transformation through modern infrastructure, improved urban layouts, green spaces, parking facilities and environmentally sustainable planning.
Cluster redevelopment has increasingly emerged as a preferred urban renewal mechanism in Mumbai, particularly for ageing residential colonies facing structural deterioration, inadequate infrastructure and limited open spaces. The participation of large developers in the latest bidding round highlights sustained interest in large-scale redevelopment opportunities in the city.
