Mumbai Developer Secures Chitrakoot Grounds for ₹8,000 Crore Mixed-Use Project
Mumbai-based real estate developer Ashwin Sheth Group has acquired the 12-acre Chitrakoot Grounds in Andheri West for a mixed-use development worth ₹8,000 crore. The project is set to include retail, office, and residential components.
Real EstateMixeduse DevelopmentAndheri WestAshwin Sheth GroupChitrakoot GroundsReal Estate MaharashtraOct 15, 2025
Mumbai (Maharashtra) [India], October 15: Speculation in real estate circles suggests that Mumbai-based developer Ashwin Sheth Group has secured the development rights for Chitrakoot Grounds. The 12-acre land parcel is located on Link Road, Andheri West, and is set to host a mixed-use development potentially combining retail, office, and residential components.
According to sources close to the matter, transaction and registration formalities are understood to have been completed, and preliminary work is expected to begin in the coming months. An industry source revealed that the proposed project carries a Gross Development Value (GDV) of roughly ₹8,000 crore.
An industry insider revealed, “From what we understand, the deal has been signed and the registration and transaction formalities have been completed. If true, this would mark one of the largest mixed-use land acquisitions in Andheri in recent years.”
Market watchers note that the potential deal follows several high-profile land movements across the city this year, where developers have been consolidating prime parcels. Analysts say such activity reflects growing interest in large-scale, self-contained urban formats in well-established micro-markets.
Several real estate insiders added that Andheri West has emerged as a hotspot for integrated developments, citing factors such as connectivity, commercial growth, and residential demand. Sources also indicate that multiple developers are reportedly reviewing similar parcels in the area, suggesting a possible surge in large mixed-use projects in the western suburbs.
The Ashwin Sheth Group, known for its innovative and sustainable projects in Mumbai, is expected to bring its expertise to the Chitrakoot Grounds development. The group has a strong track record in delivering high-quality mixed-use projects, which often include green spaces, advanced amenities, and smart city infrastructure.
The acquisition of Chitrakoot Grounds is a significant move for the real estate sector in Mumbai, as it signals a continued interest in large, integrated developments. This trend is driven by the increasing demand for mixed-use spaces that offer a blend of living, working, and leisure options in a single location.
Andheri West, with its strategic location and robust infrastructure, has become a preferred choice for developers and investors. The area is well-connected to other parts of the city via the suburban railway network and major roads, making it an attractive option for both residential and commercial projects.
The proposed mixed-use project at Chitrakoot Grounds is expected to create a new landmark in Andheri West, contributing to the area's economic and social development. It is anticipated to boost local employment, attract more businesses, and enhance the quality of life for residents.
In conclusion, the acquisition of Chitrakoot Grounds by Ashwin Sheth Group is a significant milestone in the Mumbai real estate market. The project's potential to transform the landscape of Andheri West and set new standards for mixed-use developments in the city is a promising development for all stakeholders involved.
Frequently Asked Questions
What is the estimated value of the proposed mixed-use project at Chitrakoot Grounds?
The proposed mixed-use project at Chitrakoot Grounds is estimated to have a Gross Development Value (GDV) of approximately ₹8,000 crore.
Who is the developer behind the Chitrakoot Grounds project?
The developer behind the Chitrakoot Grounds project is the Ashwin Sheth Group, a well-known real estate developer based in Mumbai.
What components will the mixed-use project at Chitrakoot Grounds include?
The mixed-use project at Chitrakoot Grounds is expected to include retail, office, and residential components.
Where is Chitrakoot Grounds located?
Chitrakoot Grounds is located on Link Road in Andheri West, Mumbai.
What factors make Andheri West a preferred location for mixed-use developments?
Andheri West is a preferred location for mixed-use developments due to its strategic location, robust infrastructure, connectivity, commercial growth, and high residential demand.
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