City-based real estate company Sattva Group has entered the Mumbai Metropolitan Region (MMR) property market with six residential and commercial redevelopment projects spanning over 8 million sq ft area.
The projects are located in micro-markets across MMR—in Parel (Sewri), Prabhadevi, Goregaon East, Vile Parle East, Powai and near Bandra Kurla Complex (BKC).
The total gross development value (GDV) across the projects is estimated at around ₹11,000 crore. With these six projects, Sattva Group said it aims to deliver over 2,500 rehabilitation homes and more than 2,000 newly-built residences.
Construction will begin this year, and continue in phases until 2032, with the first project likely to be delivered by 2028.
“Mumbai is entering a defining phase of urban renewal, driven by the need to replace ageing structures with safer, well-planned, future-ready housing. Redevelopment requires clarity, discipline and long-term commitment, values central to Sattva’s growth over the past three decades," Bijay Agarwal, managing director, Sattva Group, said in a statement on Tuesday.
“Our entry into Mumbai is a strategic extension of our legacy of delivering large, technically complex projects on time and with consistency,” Agarwal added. The company’s entry comes at a time when Mumbai is undergoing an extensive structural renewal, with more than 16,000 ageing buildings requiring redevelopment.
Redevelopment push
Sattva is the latest non-Mumbai developer to enter the country's most valuable real estate market, primarily driven by massive redevelopment opportunities.
Besides Mumbai developers, top Bengaluru developers such as Prestige Estates Projects Ltd and Puravankara Ltd have taken up projects to redevelop old housing societies or slum pockets in the city. Last year, Gurugram-based DLF Ltd, too, launched its first slum rehabilitation development, in the city's suburban Andheri locality.
As per a September 2025 report by property advisory Knight Frank India, around 910 societies in Mumbai have initiated redevelopment, unlocking 326.8 acres of potential buildable area. The momentum is accelerating.
Mumbai-based developers such as Mahindra Lifespace Developers Ltd, K Raheja Corp, Rustomjee Group among others have undertaken multiple redevelopment projects in the city.
Society redevelopment as a segment alone may unlock more than 44,000 new homes in the Brihanmumbai Municipal Corp. (BMC) limits by 2030, worth nearly ₹1.3 trillion, Knight Frank India said in its report.