Sattva Group Expands into Mumbai's Redevelopment Market with Rs 11,000 Crore Pipeline

Bengaluru-based Sattva Group is expanding into the Mumbai Metropolitan Region (MMR) redevelopment market with six residential and commercial projects spanning over 8 million square feet. This marks the company’s entry into India’s most competitive property market.

The projects, secured through competitive evaluation processes, are spread across key micro-markets including Parel (Sewri), Prabhadevi, Goregaon East, Vile Parle West, Powai, and areas around the Bandra Kurla Complex (BKC). The company expects the portfolio to have a total gross development value (GDV) of about ₹11,000 crore.

Through these redevelopment projects, Sattva plans to deliver more than 2,500 rehabilitation homes and over 2,000 new residential units. Construction is scheduled to commence in 2026 and will be executed in phases through 2032, with the first project expected to be completed by 2028.

Sattva’s entry comes amid a strong push for redevelopment in Mumbai, where industry estimates suggest more than 16,000 ageing buildings require reconstruction to meet modern safety, structural, and sustainability norms. Regulatory refinements proposed under Development Control and Promotion Regulation (DCPR) 2034 are expected to improve project viability across Slum Rehabilitation Authority (SRA), Maharashtra Housing and Area Development Authority (MHADA), and society-led redevelopment models, thereby opening opportunities for large, financially strong developers.

Industry experts note that redevelopment projects in Mumbai have gained traction as land supply remains constrained and housing demand continues to remain robust across core urban locations. The segment has increasingly attracted national developers looking to build long-term annuity and residential portfolios.

Sattva said it identified the projects through a multi-parameter evaluation framework covering regulatory clarity, engineering feasibility, environmental sustainability, lifecycle asset performance, and stakeholder engagement. The developer has been building local market intelligence across redevelopment clusters over the past year to align project phasing and execution strategies with regulatory processes and local development dynamics.

Bijay Agarwal, Managing Director, Sattva Group, said, “Mumbai is entering a defining phase of urban renewal, driven by the need to replace ageing structures with safer, well-planned, future-ready housing. Redevelopment requires clarity, discipline, and long-term commitment, values central to Sattva’s growth over the past three decades. Our entry into Mumbai is a strategic extension of our legacy of delivering large, technically complex projects on time and with consistency. We look forward to contributing meaningfully to the city’s next decade of growth.”

The projects will follow a rehabilitation-led redevelopment model, under which existing residents will be provided upgraded homes along with enhanced safety systems and amenities. The company said it will deploy dedicated stakeholder engagement teams to manage transition processes and execution timelines.

Sattva Group, which has a strong presence in southern markets including Bengaluru and Hyderabad, has been expanding its national footprint across residential and commercial segments. The developer has delivered about 78 million sq ft of real estate projects and currently has over 71 million sq ft under construction across multiple cities.

The company is also a co-sponsor of Knowledge Realty Trust (KRT), India’s largest commercial real estate investment trust (REIT), along with global investment firm Blackstone. The REIT platform comprises 46 million sq ft of Grade A office assets across six cities.

Developers expanding into Mumbai redevelopment are increasingly focusing on projects that combine technical execution capabilities with strong financial backing, as complex regulatory approvals, rehabilitation requirements, and construction challenges make redevelopment among the most execution-intensive segments in Indian real estate.