Modis Navnirman Limited Secures ₹250 Crore Redevelopment Project in Mumbai
Mumbai: Modis Navnirman Limited, a prominent real estate developer known for its rapid growth in the redevelopment segment, has been appointed to redevelop the BOI Staff Sheetal Co-operative Housing Society Ltd. The society is located at Ramnagar, S.V. Road, Borivali (West), Mumbai – 400 092.
The redevelopment project spans approximately 3924.91 square meters of plot area and is estimated to have a Gross Development Value (GDV) of around ₹250 crore. The project aims to create a modern, high-quality residential development that significantly enhances safety standards, sustainability features, and lifestyle amenities for residents.
The society has successfully completed the 79A procedure in full compliance with all applicable statutory requirements, marking a critical milestone in the redevelopment journey. Following this, 100% of the society members have provided their unanimous consent to appoint Modis Navnirman Limited as the developer. This reflects strong confidence in the company’s execution capabilities, transparency, and redevelopment track record.
Commenting on the development, Mr. Mahek Modi, Whole Time Director and Chief Financial Officer of Modis Navnirman Limited, said, “The unanimous mandate from all members of BOI Staff Sheetal Co-operative Housing Society is a strong validation of the trust reposed in Modis Navnirman. Redevelopment goes beyond construction—it requires empathy, clear communication, and a long-term vision for value creation. This project reinforces our commitment to responsible redevelopment and delivering contemporary living spaces that elevate urban lifestyles in Mumbai.”
This appointment further strengthens Modis Navnirman Limited’s expanding redevelopment portfolio across Mumbai, particularly in well-established suburban micro-markets such as Borivali West. The project aligns with the company’s strategic focus on transforming aging housing societies into future-ready residential developments, while maintaining a strong emphasis on transparency, timely execution, and sustainable value creation for all stakeholders.
Modis Navnirman Limited is a fast-growing real estate developer in Mumbai, known for its expertise in redevelopment projects. The company has a proven track record of delivering high-quality, sustainable residential developments that enhance the quality of life for residents. With a focus on transparency, innovation, and community engagement, Modis Navnirman Limited continues to lead the way in the redevelopment sector, contributing to the urban transformation of Mumbai.
