Mumbai's Historic Silver Oak Complex Likely to Undergo Major Redevelopment

The historic Silver Oak complex in South Mumbai, situated on Bhulabhai Desai Road (Warden Road), is poised for a major transformation. This iconic property, where NCP leader Sharad Pawar has resided for many years, is likely to be redeveloped soon. Lodha Developers has acquired the development rights from the Sorabji Kanga Charity Trust for the 4.3-acre land parcel.

Confirming the deal, a spokesperson from Lodha Developers stated that while the acquisition has been finalized, the specific plans for redevelopment have not yet been solidified. The complex, known for its lush greenery and old-world charm, has been a significant landmark in South Mumbai for decades.

The Sorabji Kanga Charity Trust, originally established for the Parsi community, became a cosmopolitan trust over the years. The current trustees, Kamlesh Ghisulal Mehta, Vadappa Ramappa Kori, and Vikas Champalal Mehta, have been managing the property. The complex is renowned for its cluster of old bungalows with servant quarters, set amidst giant banyan and peepul trees.

Residents of the area recall significant events that have taken place at the complex. One notable occasion was a lavish brunch hosted by Sharad Pawar, which was attended by former US President Bill Clinton during his visit to Mumbai after his term in office. Bungalow No. 2, where the Pawars reside, is officially registered under Nishant Finance and Trading Company, directed by Sadanand Bhalchandra Sule, Sharad Pawar's son-in-law.

The trust has owned the land since 1942 and currently manages six bungalows and other structures, which are occupied by tenants and lessees. However, the trust has been facing financial challenges for several years, with income barely sufficient to cover routine expenses. This financial strain has limited the trust's ability to engage in charitable activities as intended.

To address these financial difficulties, the trust invited offers from interested bidders for the sale of development rights. Lodha Developers emerged as the successful bidder, securing the rights with a security deposit of Rs 125 crore. The charity commissioner's office granted approval for the sale of development rights in October last year. According to the agreement, the trust will receive 42.5% of the gross revenue from the development of the free sale project and a building with approximately 54,000 square feet of carpet area.

The redevelopment of the Silver Oak complex is expected to bring significant changes to the area, transforming the historic bungalows into modern structures while maintaining the area's unique character and heritage.