Adani Properties Wins Major Bids for Mumbai’s Redevelopment Projects, ETRealty
NEW DELHI: Adani Properties has emerged as the highest bidder for the cluster redevelopment projects at Adarsh Nagar in Worli and Bandra Reclamation, according to the Maharashtra Housing and Area Development Authority (MHADA).
For the Sardar Vallabhbhai Patel (S.V.P.) Nagar project in Andheri West, the consortium of Hanura Realty, Chandak Realtors, Premsagar Infra Realty and Vantier Realty has emerged as the highest bidder. Hanura Realty is a subsidiary of JSW Steel.
The financial bids were opened for the appointment of construction and development agencies for the three cluster redevelopment projects being undertaken by MHADA’s Mumbai Housing and Area Development Board.
The bid acceptance proposals for all three projects will be placed before the high-powered committee constituted for these projects. After approval from the committee, the proposals will be submitted to the state government for final approval.
MHADA’s Mumbai Board had issued tenders on April 8, 2026, for the appointment of construction and development agencies for the three projects. The last date for submission of bids was May 18, 2026.
The technical evaluation of bids was completed before the financial bids were opened on May 27, 2026.
The three projects cover S.V.P. Nagar in Andheri West spread across 73.89 acres, Bandra Reclamation spread across 98.27 acres and Adarsh Nagar in Worli spread across 34.33 acres.
Under the redevelopment projects, eligible residents will receive transit rent during the redevelopment period and a corpus fund for maintenance, MHADA said.
