Bengaluru’s Sattva Group enters Mumbai with ₹11,000 crore redevelopment push

The projects are located in micro markets across MMR – Parel (Sewri), Prabhadevi, Goregaon East, Vile Parle East, Powai and near Bandra Kurla Complex (BKC).

The total gross development value (GDV) across projects is estimated to be approx. ₹11,000 crore. Sattva Group said it aims to deliver more than 2,500 rehabilitation homes and more than 2,000 new-build homes through these six projects.

Construction will begin this year and continue in phases until 2032; The first project will probably be delivered in 2028.

“Mumbai is entering a defining phase of urban renewal driven by the need to replace aging structures with safer, well-planned, future-ready housing. Redevelopment requires clarity, discipline and long-term commitment; values ​​that have been at the heart of Sattva’s growth over the last three decades,” Bijay Agarwal, managing director of Sattva Group, said in a statement on Tuesday. he said.

“Our entry into Mumbai is a strategic extension of our legacy of delivering large, technically complex projects on time and consistently,” Agarwal added. The company’s involvement comes at a time when Mumbai is undergoing extensive structural renovation and over 16,000 obsolete buildings need to be redeveloped.

Redevelopment pressure

Sattva is the latest developer outside Mumbai to enter the country’s most valuable real estate market, driven primarily by major redevelopment opportunities.

Apart from Mumbai developers, top Bengaluru developers such as Prestige Estates Projects Ltd and Puravankara Ltd have also taken up projects to redevelop old housing societies or slums in the city. Last year, Gurugram-based DLF Ltd also launched its first slum rehabilitation project in the city’s Andheri suburb.

According to real estate consultant Knight Frank India’s September 2025 report, around 910 communities in Mumbai have initiated redevelopment, unlocking 326.8 acres of potential buildable area. Momentum is accelerating.

Mumbai-based developers like Mahindra Lifespace Developers Ltd, K Raheja Corp, Rustomjee Group have undertaken numerous redevelopment projects in the city.

Redevelopment of the society as a stand-alone segment, Brihanmumbai Municipal Corporation by 2030. (BMC) can unlock around 44,000 new homes within its limits. ₹Knight Frank India stated in its report that it is 1.3 trillion.