Kalpataru Ltd on Monday announced that it has signed a large cluster redevelopment project in Kandivali East, Mumbai, with an estimated gross development value (GDV) potential of nearly ₹1,250 crore.
According to the company’s press release, the redevelopment project comprises five adjacent societies in Ashok Nagar, Kandivali East, collectively referred to as the “Ashokgram Cluster.” The project spans around 2.8 acres of land and carries a free-sale potential of nearly 0.37 million square feet of carpet area.
Commenting on the development, Parag Munot, Managing Director of Kalpataru Ltd, said redevelopment remains a transformative opportunity that can breathe new life into existing communities while preserving their local identity.
He added that the Kandivali East project is envisioned as a future-ready residential development with modern amenities, green spaces, and strong connectivity to key road and metro networks. The company also highlighted the project’s proximity to educational institutions, healthcare centres, retail hubs, and other social infrastructure.
Kalpataru noted that it already has a strong presence in Kandivali East, having delivered multiple landmark developments in the locality, including Kalpataru Jharkha, Kalpataru Vatika, Kalpataru Gardens, Kalpataru Tower, Kalpataru Avenue, and Kalpataru Vienta.
The latest announcement comes shortly after the company announced another major redevelopment project in Andheri East earlier this year with an estimated GDV of around ₹1,400 crore, reflecting its continued focus on Mumbai’s redevelopment market.
Kalpataru Ltd said it currently has 83 completed projects aggregating more than 23.3 million square feet of developable area and over 43 million square feet across ongoing and forthcoming projects spread across Mumbai, Thane, Panvel, Pune, Hyderabad, Noida, Nagpur, and Lonavala.
Disclaimer: The article is for informational purposes only and should not be considered as investment advice.