Mumbai: Kalpataru Limited has announced the signing of a large cluster redevelopment project in Kandivali East, Mumbai, with an estimated Gross Development Value (GDV) of around Rupees 1,250 crore. The project, named Ashokgram Cluster, comprises five adjacent societies located in Ashok Nagar, Kandivali East. According to the company’s press release dated May 25, 2026, the redevelopment spans approximately 2.8 acres of prime land and has a free sale potential of about 0.37 million square feet of carpet area.
Residential Project With High-Street Retail
The project is envisaged as a residential development with high-street retail. Kalpataru said the redevelopment is located in a thriving micro-market and offers strong connectivity to major road networks and metro lines. The company added that the project’s appeal is supported by its proximity to social infrastructure, including educational institutions, healthcare centres, retail spaces, and business hubs.
Company Calls Redevelopment A Transformative Journey
Parag Munot, Managing Director of Kalpataru Limited, said the company views redevelopment as a transformative journey that gives new life to existing communities. He said the Kandivali East project is being planned as a future-ready neighbourhood that will combine local heritage with modern planning, green spaces and contemporary amenities. He added that Kalpataru is honoured to partner with the local community and aims to set a new benchmark for sustainable urban living while preserving the area’s character.
Kalpataru Strengthens Kandivali East Presence
Kalpataru already has a strong presence in Kandivali East, where it has delivered six developments: Kalpataru Jharokha, Kalpataru Vatika, Kalpataru Gardens, Kalpataru Tower, Kalpataru Avenue and Kalpataru Vienta. The company said the new project further reinforces its leadership and presence in the locality. The announcement also follows Kalpataru’s earlier Rupees 1,400 crore redevelopment project in Andheri East announced in March.
About Kalpataru Limited
Kalpataru Limited is one of the largest developers in Mumbai, Maharashtra. The company develops luxury, premium, and aspirational residential, commercial, and retail projects, along with integrated townships, lifestyle gated communities, and redevelopment projects. The company has completed 83 projects covering more than 23.3 million square feet of developable area. It also has 31 ongoing and forthcoming projects spread over around 43 million square feet across Mumbai, Thane, Panvel, Pune, Lonavala, Nagpur, Noida, and Hyderabad.
Disclaimer: This article is based solely on the company’s press release filed with the stock exchanges and does not include inputs from any external source.
