Explore how cluster redevelopment and affordable housing initiatives are transforming Mumbai's real estate landscape, with a special focus on projects by the Maharashtra Housing and Area Development Authority (MHADA) and the MMR Growth Hub Project.
Cluster RedevelopmentAffordable HousingMmr Growth Hub ProjectMhadaReal EstateReal Estate MaharashtraFeb 06, 2025
Cluster redevelopment is a strategic approach that involves the combined redevelopment of multiple buildings or plots in a specific area. The aim is to transform dilapidated and congested areas into modern, well-planned residential and commercial spaces, improving living conditions and promoting sustainable growth.
The MMR Growth Hub Project is a significant initiative that aims to develop a cluster of 11 townships across the Mumbai Metropolitan Region (MMR). These townships will be equipped with modern infrastructure, creating over 200,000 jobs and providing housing for more than 1 million people.
The Maharashtra Housing and Area Development Authority (MHADA) is a statutory body that provides housing solutions to low-income and middle-income groups. MHADA has been actively involved in implementing the Pradhan Mantri Awas Yojana (PMAY) and constructing thousands of affordable housing units across the state.
Affordable housing provides a sense of security and dignity to thousands of families, enabling them to lead better lives. It helps in reducing urban poverty and improving the socio-economic conditions of the residents, contributing to the overall well-being of the city.
The Pradhan Mantri Awas Yojana (PMAY) is a government scheme that aims to provide a pukka house to all eligible households by 2022. MHADA has been actively involved in implementing PMAY in Maharashtra, focusing on innovative construction techniques to reduce costs and improve the quality of housing.
Kalpataru, a prominent real estate developer in the Mumbai Metropolitan Region, is set to enter the 'Zero Mile City of India' – Nagpur, with a new project located close to the Samruddhi Expressway.
Uttar Pradesh Chief Minister Yogi Adityanath lays foundation stone for IKEA store in Noida, a ₹5,500-crore project set to boost commercial real estate and industrial development in the state.
COWRKS, a leading provider of premium workspaces, has announced its expansion with the opening of new centres in Mumbai and Bengaluru, adding 1.4 lakh sq ft to its total presence across India.
The Gujarat Real Estate Regulatory Authority (GujRERA) has directed all real estate developers in the state to open separate project bank accounts in Gujarat.
A luxury apartment at Lodha Sea View in Mumbai's Worli has been sold for a record-breaking Rs 187 crore. The property's prime location and ongoing infrastructure projects, such as the Mumbai Coastal Road and Metro Line-3, are driving its desirability.
Realty firm Keystone Realtors reports 45% decline in net profit at Rs 25.82 crore for June quarter FY25, citing higher expenses. Total income rises to Rs 437.20 crore during April-June period.