Overview
- Kalpataru filed a regulatory announcement on May 25, 2026 that it has signed the Ashokgram cluster redevelopment covering five adjoining societies in Ashok Nagar, Kandivali East.
- The project covers about 2.8 acres and offers roughly 0.37 million sq ft of free-sale carpet area with an estimated gross development value of around ₹1,250 crore.
- Kalpataru says the plan mixes residential units with high-street retail and green open spaces while positioning the site for easy access to major roads, metro lines, schools and hospitals.
- The company already has six completed developments in Kandivali East and this signing follows a separate ₹1,400 crore redevelopment announced in Andheri East in March, showing an active expansion strategy in Mumbai micro-markets.
- Industry data cited in the coverage show redevelopment deals in Mumbai rose in 2025, but the Ashokgram project still needs municipal approvals, rehabilitation plans and financing before construction can begin, which will determine its timeline and impact on residents.