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Meghna Infracon Infrastructure Ltd has announced plans to invest around INR 500 crore to redevelop five housing projects across the Mumbai Metropolitan Region. The projects, located in the western suburbs and Thane, are expected to generate nearly INR 600 crore in revenue. The developments will include 320 units, with around 200 units available for sale. The Bharti CHS project in Bandra West will be the largest, with a projected revenue potential of INR 240 crore. The move reflects the growing focus on redevelopment projects in MMR after the pandemic.
Meghna Infracon Infrastructure Ltd has outlined plans to invest approximately INR 500 crore to redevelop five housing projects across the Mumbai Metropolitan Region (MMR), as part of its business expansion strategy. Advertisement
In a recent regulatory filing, the company stated that it has added five new redevelopment projects to its portfolio, covering locations in the western suburbs of Mumbai and Thane. These projects together are expected to generate an estimated revenue of around INR 600 crore.
The planned developments will comprise a total of 320 residential units. Of these, nearly 200 units are expected to be launched for sale in the open market, while the remaining units will be allocated to existing residents as part of the redevelopment agreements.
Within this portfolio, the Bharti CHS project located in Bandra West is positioned as the largest and most premium development. The company has projected a revenue potential of about INR 240 crore from this single project, indicating a focus on higher-value housing in prime locations.
On the investment front, the company clarified that the total outlay for these redevelopment projects is expected to be in the range of INR 400–500 crore.
The Mumbai Metropolitan Region has seen a steady rise in redevelopment activity in recent years, particularly after the COVID-19 pandemic. Several established developers have entered this segment, driven by limited land availability and increasing demand for modern housing within existing city limits. Redevelopment of old housing societies has become a key growth avenue for real estate firms looking to expand in densely populated urban areas like Mumbai.
Source PTI
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