Modis Navnirman Limited Secures Redevelopment Mandate for Landmark High-Rise Tower in Mumbai

Mumbai, India | March 05, 2026:
Modis Navnirman Limited, a fast-growing redevelopment-focused real estate developer, has announced its appointment as the developer for the redevelopment of New Chitra Co-operative Housing Society Ltd., one of the earliest high-rise residential towers located in Kandivali West, Mumbai.

Originally constructed more than three decades ago, the existing 14-storey structure was considered a landmark during its time. The building will now be completely demolished to pave the way for a modern, premium commercial-cum-residential tower designed to meet contemporary standards of safety, sustainability, and urban lifestyle.

Spread across a land parcel of approximately 2,300 square meters, the project is expected to generate an estimated Gross Development Value (GDV) of around ₹160 crore. The upcoming development will feature thoughtfully designed residential units, curated commercial spaces, and modern lifestyle amenities that aim to provide a future-ready environment for both residents and investors.

The redevelopment project will significantly enhance the quality of living for existing society members. Residents will receive larger and better-planned homes with modern layouts, upgraded specifications, dedicated parking facilities, and improved common infrastructure.

Designed with a strong focus on sustainability and resilience, the new tower will incorporate energy-efficient systems, rainwater harvesting, enhanced fire-safety mechanisms, smart building technologies, and other environmentally responsible features aligned with current structural and environmental standards.

Strategically located in Kandivali West, one of Mumbai’s rapidly growing residential and commercial hubs, the project benefits from excellent connectivity and strong social infrastructure. Its location makes it an attractive destination for both end users and investors seeking modern real estate opportunities in Mumbai.

Commenting on the development, Mr. Mahek Modi, Whole-Time Director and Chief Financial Officer, said:

"Redeveloping one of the city’s earliest high-rise structures is both a responsibility and an opportunity. This project represents the evolution of Mumbai’s skyline, where legacy buildings are transformed into safe, modern, and premium developments. At Modis Navnirman, we are committed to delivering projects that combine design excellence, transparency, and long-term value creation for residents and stakeholders alike."

Mr. Dinesh C. Modi, Founder, added:

"Redevelopment is central to Mumbai’s next phase of growth. Our focus is on unlocking value in aging assets while creating high-quality spaces that enhance lifestyles and strengthen communities. This mandate reinforces the trust that housing societies place in us to execute responsibly and deliver projects on time."

This appointment further strengthens Modis Navnirman Limited’s growing redevelopment portfolio across Mumbai, where the company continues to collaborate with housing societies to transform aging properties into premium, future-ready developments.

About Modis Navnirman Limited

Founded in 2010, Modis Navnirman Limited is a redevelopment-focused real estate developer with a strong presence across Mumbai. The company specializes in transforming aging residential and mixed-use properties into modern, high-quality developments through strategic planning, engineering excellence, and disciplined execution.

With multiple projects completed and several under development, the company continues to set benchmarks in design quality, transparency, and timely delivery within the redevelopment sector.

For more information visit: www.modisnirman.com