Mumbai's 87-Year-Old Bungalow Set for Self-Redevelopment: What You Need to Know
In the bustling real estate market of Mumbai, an 87-year-old bungalow in Bandra is set to undergo self-redevelopment, offering a unique opportunity for the owners to gain significantly more space. Here’s what you need to know about this groundbreaking project and the Maharashtra government’s self-redevelopment policy.
SelfredevelopmentMumbai Real EstateBungalow RedevelopmentBandraVictoria CottageReal Estate MaharashtraAug 19, 2025
The bungalow, Victoria Cottage, was built in 1938 by Dominic Lewis Pereira, who had previously lived in Mahim. It is located in Bandra along Veronica Street near Lilavati Hospital. Dominic later sold the bungalow to Didacus Everest Pereira. According to the report, Didacus’s son Vivian and his wife Myra have been living at the bungalow since their marriage in 1975.
Victoria Cottage is part of the larger St. Sebastian Homes Cooperative Housing Society, which has 110 plots. In the vicinity of the bungalow, several plots have already been redeveloped conventionally, with the land rights given over to a developer who then managed the project. However, the Pereira family wants to self-redevelop their bungalow.
According to the report, the bungalow owners, multiple developers had approached them with offers over the past 20 years, but redevelopment was never a priority. It was only in 2018 that the family began considering reconstructing their cottage, which included two bedrooms, a hall, a dining room, and a kitchen. Coincidentally, in January 2018, the state government introduced a self-redevelopment scheme to promote such projects in Mumbai. By 2021, the family had decided to go ahead with self-redevelopment.
The bungalow is standing on a 5,167 sq ft plot and will be converted into a 14-storey building with a total area of 21,000 sq ft. The owners have prepared a blueprint for the self-redevelopment. According to the plan, each floor will have two 2 BHK units with options of 875 sq ft and 909 sq ft. Each apartment will have three balconies, and the society will have two parking towers and two basement floors.
The Pereira family, post self-redevelopment, will move into the top four floors of the building, and the remaining 20 apartments will be sold in the open market to make the redevelopment project profitable. Compared to their current house, the Pereiras will get around 400% extra space in the new building. The family plans to sell the flats to their relatives for a discounted price in the first round. Thereafter, they will be marketed in the open market.
Luxury apartment prices in Mumbai’s Bandra average around ₹1 lakh per sq ft and above. However, brokers said secondary market rates near Lilavati Hospital range between ₹40,000 and ₹90,000 per sq ft, depending on location and specifications. The prime luxury belt lies in Pali Hill, about 3 km away, home to Bollywood stars such as Shah Rukh Khan, Aamir Khan, Ranbir Kapoor, and Jackie Shroff. In Pali Hill, Carter Road, and Bandstand, top-end apartments command ₹1.3–1.5 lakh per sq ft, brokers said.
The bungalow also neighbours Lilavati Hospital in Bandra Reclamation. The Adani Group plans to come up with a mixed-use project nearby, after acquiring a 24-acre land parcel last year.
In the Mumbai real estate market, self-redevelopment refers to a process where a housing society undertakes the redevelopment of its old or dilapidated building without involving an external developer. Instead, society members act as developers by appointing architects, contractors, and project management consultants. This model gives residents greater control over design, timelines, and profits, unlike builder-led projects, where developers often corner maximum benefits.
The Maharashtra Housing Policy 2025 strongly promotes self-redevelopment, with the state allocating ₹2,000 crore and proposing a dedicated cell to assist cooperative housing societies. 'Self-redevelopment is, in principle, a progressive initiative by the government, but in Mumbai it has not taken off as expected. The primary hurdle lies in funding and cash flow management. Once a society raises finance, repayment is typically linked to sales proceeds, with property mortgaged to secure loans. If sales are slow or delayed, interest costs rise, putting severe pressure on cash flows and overall project viability,' said Sanjay Sippy, a real estate consultant from Bandra area of Mumbai.
'Another challenge is that non-branded or relatively unknown developers often execute such projects, which makes generating sales confidence in the market more difficult. As a result, only a limited number of societies have successfully taken this route. However, with the Maharashtra government now introducing incentives in the new housing policy, there is renewed hope. The coming years will reveal whether more societies can seize this opportunity and demonstrate that self-redevelopment can be a viable, transparent, and resident-friendly model,' Sippy added.
Frequently Asked Questions
What is self-redevelopment in the context of Mumbai real estate?
Self-redevelopment in Mumbai real estate refers to a process where a housing society undertakes the redevelopment of its old or dilapidated building without involving an external developer. Society members act as developers by appointing architects, contractors, and project management consultants, giving residents greater control over design, timelines, and profits.
How much additional space will the Pereira family gain through self-redevelopment?
The Pereira family will gain around 400% more space in their new 14-storey building compared to their current 87-year-old bungalow.
What is the significance of Victoria Cottage in Bandra?
Victoria Cottage is an 87-year-old bungalow in Bandra, built in 1938. It is part of the St. Sebastian Homes Cooperative Housing Society and is set to be redeveloped into a 14-storey building, marking a significant milestone in self-redevelopment in Mumbai.
What challenges do societies face in self-redevelopment?
Societies face challenges such as funding and cash flow management, generating sales confidence in the market, and the involvement of non-branded or relatively unknown developers. These hurdles can put pressure on the project's viability and overall success.
What incentives does the Maharashtra government offer for self-redevelopment?
The Maharashtra Housing Policy 2025 strongly promotes self-redevelopment, with the state allocating ₹2,000 crore and proposing a dedicated cell to assist cooperative housing societies. These incentives aim to make self-redevelopment a viable and resident-friendly model.
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