Mumbai Real Estate News: Arvind SmartSpaces Enters MMR With ₹300 Crore Santacruz Redevelopment Project
· Free Press Journal
Mumbai, March 27: Arvind SmartSpaces Limited (ASL), a leading real estate development company, part of the Lalbhai Group, on Friday announced that it has signed a society redevelopment project in Santacruz, Mumbai.
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The project has a potential of ~Rs 300 crore with a total estimated carpet area for sale of 42,000 sq ft. With this project addition, the cumulative new business development topline potential for the year stands at ~Rs 3,140 crore.
Entry into redevelopment segment in Mumbai
This project marks Arvind SmartSpaces’ entry into the society redevelopment segment. It is the Company’s first residential apartment project in MMR and the second project in the region. Strategically located in a well-established micro-market of Santacruz (West), the project has excellent connectivity from north–south arterial road linking Bandra, Khar, Santacruz, Vile Parle and Andheri.
Strong connectivity and growth potential
It offers strong multimodal access via the Western Railway line, proximity to the Western Express Highway and quick connectivity to the Chhatrapati Shivaji Maharaj International Airport, while also benefiting from improved east–west linkages through the Santacruz–Chembur Link Road.
Its central location between key residential, commercial and retail hubs, including Bandra-Kurla Complex, drives strong end-user and rental demand, making it a high-potential residential corridor with sustained capital appreciation.
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Priyansh Kapoor, Managing Director and CEO, Arvind SmartSpaces, said, “This project addition is an important milestone in our Mumbai portfolio journey. MMR is a strategically important market for us, and redevelopment offers a compelling opportunity. The signing highlights our brand strength as society redevelopment space necessitates credibility.“
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