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

Sattva Group, a prominent real estate developer based in Bengaluru, is making a significant move into Mumbai's property market. The company has secured six major redevelopment projects spanning over 8 million square feet, marking its entry into one of India's most competitive property markets.

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 total gross development value (GDV) of these projects is estimated at about Rs 11,000 crore.

Through these redevelopment projects, Sattva aims 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 into Mumbai aligns with the city's strong push for redevelopment. Industry estimates suggest that more than 16,000 aging buildings in Mumbai require reconstruction to meet modern safety, structural, and sustainability norms. The proposed Development Control and Promotion Regulation (DCPR) 2034 is expected to enhance project viability across various redevelopment models, including those under the Slum Rehabilitation Authority (SRA), Maharashtra Housing and Area Development Authority (MHADA), and society-led initiatives.

Industry experts note that redevelopment projects in Mumbai have gained traction due to the constrained land supply and robust housing demand in core urban locations. This segment has attracted national developers who are looking to build long-term annuity and residential portfolios.

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

Bijay Agarwal, Managing Director of Sattva Group, commented, “Mumbai is entering a defining phase of urban renewal, driven by the need to replace aging structures with safer, well-planned, and 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 with enhanced safety systems and amenities. Sattva will deploy dedicated stakeholder engagement teams to manage transition processes and execution timelines.

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

Additionally, Sattva is 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 square feet of Grade A office assets across six cities.

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