Kalpataru Limited has entered Bangur Nagar, Goregaon West, with Kalpataru Elaara, a residential redevelopment rising on the site of Hariniketan CHS. Kalpataru Elaara is a thoughtfully planned residential redevelopment in Bangur Nagar, Goregaon West by Kalpataru Developers, spread across approximately 2.35 acres, offering 2 BHK, 3 BHK, and 4 BHK residences with contemporary amenities and refined architecture. The project rises across a 2.38-acre parcel in two towers of 29 storeys each — Tower A with 22 habitable floors and Tower B with 20 habitable floors — presenting 2 and 3 BHK residences ranging from 800 to 1,550 sq.ft. Homes are designed with vaastu-compliant layouts and space-optimized floor plans, with Jodi apartment options available for families seeking larger living spaces.
Kalpataru Elaara has received its RERA approval, with the project allotted RERA Number PM1180002600918. It is registered under MahaRERA PM1180002600918 with possession scheduled for 31st May 2030.
Kalpataru Limited is the listed real estate arm of the Kalpataru Group, a name with roots tracing back to 1969, headquartered at Kalpataru Synergy, Santacruz East, Mumbai, and led by promoters Mofatraj P. Munot and Parag M. Munot. The group's diversified portfolio spans luxury, premium, and mid-income residential developments, commercial spaces, and integrated townships across the Mumbai Metropolitan Region, Pune, Thane, Panvel, Hyderabad, Indore, Bengaluru, and Jodhpur.
Kalpataru Limited listed on the NSE and BSE on 1st July 2025 following a ₹1,590 crore IPO, reinforcing its corporate governance and transparency standards. The company has developed over 120 projects across 10 Indian cities over more than five decades. Its early landmarks include Kshitij, which became Mumbai's tallest building at 33 storeys in 1976, and Srishti, which introduced 1.5 bedroom apartments in 1983. The developer has also built on its environmental credentials: as of FY24, Kalpataru had secured a total of 39 green building certifications covering 27.15 million square feet, including certifications from the Indian Green Building Council and LEED.
Bangur Nagar is not Kalpataru's first move into this suburb. In Goregaon West alone, the developer has delivered landmark projects including Kalpataru Radiance, Kalpataru Allura, and Kalpataru Brilliance — a track record of trust that now extends to Kalpataru Elaara in Bangur Nagar. Kalpataru Radiance, in the neighbouring Siddharth Nagar / Motilal Nagar belt, remains one of the more actively traded addresses in the micro-market: average property prices at Kalpataru Radiance moved from ₹36,400 per sq ft to ₹38,050 per sq ft in Q1 2026 alone — a 4.53% rise in a single quarter — with 40 transactions recorded in the last year, making it one of the most actively transacted projects in all of Goregaon West. That existing footprint gives Kalpataru Elaara a locally proven reference point for construction quality and resale performance before ground has even fully broken on the new towers.
Bangur Nagar sits in a suburb that has visibly shifted gears. Old four-storey buildings are coming down and 30-plus storey towers are going up across the neighbourhood, a cycle accelerated by Maharashtra government redevelopment policies, including higher FSI for self-redevelopment societies. According to MHADA and BMC data, over 40 societies in the Goregaon West belt have either completed redevelopment or are in various stages of approval and construction. Kalpataru's Hariniketan CHS project is part of that same wave.
Metro access is a large part of the story. Mumbai Metro Line 2A, running from Dahisar East to DN Nagar, Andheri, became operational in phases through 2024-2025, and the Goregaon West station sits approximately 500 metres from central Bangur Nagar. The Bangur Nagar metro station itself is roughly 500 metres from the project site on Mahatma Gandhi Road. On price, the gap with more established western-suburb addresses is closing: the gap between Bangur Nagar and Andheri West, currently Rs 13,000 to 16,000 per sq ft, has been narrowing from Rs 10,000 to 13,000 in 2022. Areas near metro stations like Bangur Nagar have seen property values soar by 30-40% since the metro became operational.
Unlike peripheral launches that promise future infrastructure, Bangur Nagar's social fabric is already mature. Bangur Nagar's social infrastructure is already in place, with Vibgyor High, Ryan International, Gundecha Education Academy, and Smt. Sulochanadevi Singhania School all within a 2-3 km radius, and Patkar College and the Goregaon education cluster minutes away. Wockhardt Hospital, within 2 km, Siddhi Vinayak Hospital, and the ongoing expansion of medical facilities along SV Road give residents multiple healthcare options. The suburb also benefits from its edge position: Aarey Colony, the 1,300-acre green zone often called Mumbai's last lung, borders Goregaon West to the north, giving residents proximity to one of the largest urban green spaces in any Indian metro.
The Hariniketan CHS redevelopment brings low-density planning to a high-rise format. With low-density planning across both towers, residents get enhanced privacy and unobstructed airflow, with fewer homes per floor across both towers meaning more privacy and unobstructed airflow throughout the residences. Families seeking larger layouts can combine adjacent units for a customised, expansive home. On amenities, the project offers 17-plus amenities, with key external features including a mini theatre, gymnasium, party lawn, indoor games, and pool deck.
For anyone comparing Kalpataru's Goregaon West portfolio, the developer's other addresses in the belt — Kalpataru Radiance, Allura, and Brilliance — sit in the neighbouring Siddharth Nagar and Motilal Nagar pockets, while Kalpataru Elaara anchors the Bangur Nagar side of the same corridor, close to the Bangur Nagar metro station and Mahatma Gandhi Road.
