Kalpataru Bags Ashokgram Cluster Redevelopment in Kandivali East with ₹1,250 Crore GDV
Kalpataru Secures ₹1,250 Crore Ashokgram Cluster Redevelopment in Kandivali East
Kalpataru Limited has announced the signing of a major cluster redevelopment project in Ashok Nagar, Kandivali East, with an estimated gross development value of around Rs 1,250 crore. The venture integrates five adjacent societies spanning approximately 2.8 acres of prime land.
Project Scope and Configuration
The project features a free-sale potential of around 0.37 million square feet of carpet area. Designed as a residential development complete with high-street retail, the project capitalizes on its location within a well-connected and established neighborhood.
The cluster redevelopment is strategically positioned within a thriving micro-market, offering residents excellent connectivity to major road networks and metro lines. The project's appeal is further bolstered by its proximity to a robust social infrastructure, including premier educational institutions, leading healthcare centres, and vibrant retail and business hubs.
Kalpataru's Kandivali East Footprint
This announcement marks Kalpataru's seventh major footprint in the Kandivali East micro-market, where it has already delivered six landmark residential projects. Named developments include Kalpataru Jharokha, Kalpataru Vatika, Kalpataru Gardens, Kalpataru Tower, Kalpataru Avenue and Kalpataru Vienta.
According to Housing.com, for the January–March 2026 period, the average apartment price in Kandivali East stood at ₹23,312 per square foot, up 24.46 per cent year-on-year. As Mumbai's infrastructure upgrades, particularly Metro Line 7, improve connectivity to Kandivali, the project is well-positioned to command a premium.
Broader Redevelopment Strategy
This announcement follows a major Rs 1,400 crore redevelopment project secured by the developer in Andheri East earlier this March. The Kandivali signing reflects Kalpataru's broader focus on cluster redevelopment—a model that leverages government incentives for larger contiguous land parcels in dense urban areas.
Cluster redevelopment is incentivized by the government to provide better infrastructure and planned urban growth, offering developers larger contiguous land parcels in otherwise saturated neighborhoods.
Developer Background
With a legacy spanning more than five decades, Kalpataru Ltd. stands as a pioneer in Mumbai's redevelopment landscape. Kalpataru currently has 83 completed projects aggregating over 23.3 million square feet of developable area and 31 ongoing and forthcoming projects spread across Mumbai, Thane, Panvel, Pune, Lonavala, Nagpur, Noida and Hyderabad.
Kalpataru Limited is an integrated real estate development company with over 113 completed projects across Mumbai, Thane, Panvel, Pune, Hyderabad, Indore, Bengaluru, and Jodhpur.