KALPATARU SUMAN NAGAR CHEMBUR REDEVELOPMENT — New Project Coming Up in Suman Nagar, Mumbai
Kalpataru Redevelopment in Suman Nagar, Chembur
Kalpataru has signed a redevelopment agreement for the Suman Co-operative Housing Society in Suman Nagar, Chembur, a five-acre site with ten existing residential buildings. The project will feature six new towers offering over 4.2 lakh square feet of carpet area, with 350 apartments available for sale.
Project Scale and Timeline
The towers will be newly constructed modern structures, replacing the current housing society infrastructure. The redevelopment is set to be completed within 42 months from the commencement of construction. The redevelopment deal for Suman CHS is valued at Rs 247 crore.
Part of Larger Mumbai Initiative
Kalpataru has signed redevelopment agreements for two housing societies in Mumbai's Chembur and Goregaon, covering 7.5 acres with ₹2,000 crore revenue potential. The new redevelopment projects are part of Kalpataru's plans to pursue a redevelopment-led growth path in Mumbai, especially in the western suburbs.
About the Developer
Kalpataru Group is a renowned real estate developer with a legacy of over five decades in creating premium residential and commercial spaces across India. Established in 1969, the company is known for its commitment to quality, innovation, and sustainability. Kalpataru is one of the leading developers in India and has 104 residential and commercial projects in its portfolio, out of which 81 projects are in Mumbai.
Location and Connectivity
The Suman Cooperative Housing Society redevelopment is located on VN Purav Marg in Chembur. Chembur, located in the eastern suburbs of Mumbai, is known for its well-developed infrastructure, strategic location, and is a significant commercial centre with various IT companies, shopping malls, and dining establishments.
BKC (Mumbai's largest business district) is a short commute away via the SCLR and BKC Connector, making Chembur real estate attractive to working professionals. The Metro Line 2B, Eastern Freeway, and SCLR have made property in Chembur far more accessible than it was a decade ago.
Housing Society Redevelopment Incentive
In 2023, the Maharashtra government announced that housing society members undergoing redevelopment would no longer have to pay stamp duty on the allotted permanent accommodation. This policy change has accelerated redevelopment activity in Mumbai's established suburbs.