SBI Term Loan: RLLR: 8.15 | 7.25% - 8.45%
Canara Bank: RLLR: 8 | 7.15% - 10%
ICICI Bank: RLLR: -- | 8.5% - 9.65%
Punjab & Sind Bank: RLLR: 7.3 | 7.3% - 10.7%
Bank of Baroda: RLLR: 7.9 | 7.2% - 8.95%
Federal Bank: RLLR: -- | 8.75% - 10%
IndusInd Bank: RLLR: -- | 7.5% - 9.75%
Bank of Maharashtra: RLLR: 8.05 | 7.1% - 9.15%
Yes Bank: RLLR: -- | 7.4% - 10.54%
Karur Vysya Bank: RLLR: 8.8 | 8.5% - 10.65%

MHADA to redevelop Bandra East headquarters via PPP model, plans commercial tower near BKC

#Builders & Projects#India#Maharashtra#Mumbai City#Bandra (East)
Last Updated : 6th May, 2025
Synopsis

MHADA is set to redevelop its Bandra East headquarters through a public-private partnership (PPP), replacing the current office with a multi-storey commercial tower near BKC. The selected developer will construct MHADA's new offices free of cost in exchange for rights to lease or sell a portion of the commercial space. The site's proximity to BKC and Bandra station positions it as a prime redevelopment opportunity within Mumbai's urban renewal zone. Once land ownership clearances are obtained, the project will proceed. MHADA may extend this model to other high-value properties, using commercial redevelopment to fund future affordable housing initiatives.

The Maharashtra Housing and Area Development Authority (MHADA) is planning to redevelop its Bandra East headquarters by inviting private developers under a public-private partnership (PPP) model. The move is part of a broader plan to modernize MHADA-owned land and bring in new commercial space to unlock value in high-demand areas.


Under the new proposal, MHADA's existing head office-located near the Bandra-Kurla Complex and Bandra railway station-will be demolished and replaced by a multi-storey commercial tower. The developer will be allowed to lease or sell part of the commercial space in exchange for constructing MHADA's new offices at no cost to the state.

The site is less than 100 metres from BKC and falls within an active urban renewal zone. With major infrastructure upgrades and private projects already transforming the area, MHADA hopes the redevelopment will help decongest the space and attract new businesses. Officials say the plan will follow the same PPP format used in other successful government-led commercial redevelopments in Mumbai.

MHADA Vice President Sanjeev Jaiswal confirmed that once the land ownership is fully cleared, the project will move ahead. The idea was originally floated during the previous government and has regained momentum after the current Sena-BJP alliance expressed support. A senior official noted that repurposing MHADA's valuable land for a PPP project is a practical way to upgrade state offices without using public funds.

MHADA manages over 566 residential colonies across Mumbai, many of which sit on high-value land. With rising demand for office space near metro stations and business hubs, the authority may look to replicate this redevelopment model in other locations. Officials say that freeing up central land for mixed use can help fund affordable housing projects in the long run.

Have something to say? Post your comment