Ashar Group Secures Early OCs for Two Major Redevelopment Projects in Mumbai
Mumbai, May 6, 2026: In a significant departure from the trend of project delays in the Mumbai Metropolitan Region (MMR), Ashar Group has secured Occupation Certificates (OCs) for two premium redevelopment projects 20 months ahead of their RERA deadlines. The dual milestone involves Ashar Arize in Kalwa and The Legend by Ashar in Bandra, representing the delivery of over 1,200 homes. This early completion comes at a time when nearly 40% of housing inventory in the region typically faces timeline overruns, the company said in a press release.
The first project, Ashar Arize, was launched in April 2022 with a registered completion date of 2027. The four-acre complex features 40-storey towers and 20,000 sq. ft. of high-street retail anchored by national brands. Meanwhile, The Legend by Ashar is situated in the high-stakes Pali Hill neighborhood of Bandra, where land scarcity and legal complexities often hinder redevelopment efforts. Delivering both projects early highlights the group’s execution capability across vastly different market segments.
Ajay Ashar, Chairman & Managing Director of Ashar Group, emphasized that the achievement is rooted in the company’s core values. “We entered this business in 2001 with one conviction: that in real estate, your word is your most valuable asset. OC is where that word is finally tested. Delivering two projects 20 months ahead of RERA is the compounding result of a lot of focus, hard work and integrity – from the day we signed the DA to the day of possession,” Ashar stated.
Redevelopment is widely regarded as the most complex sector of Indian real estate, involving the management of existing occupants, legacy titles, and construction in dense urban environments. While redevelopment projects account for over 60% of new housing supply in the island city, they often carry high delivery risks. Ashar Group’s ability to navigate these challenges ahead of schedule suggests a shift toward a more systematic approach to project management in the segment.
Ayushi Ashar, Director of Ashar Group, attributed the early delivery to a specialized internal system. “What separates greenfield projects from redevelopment is the unglamorous discipline of approvals, consent management, construction sequencing and cash flow management. Delivering ahead of schedule, across Bandra and Kalwa, in the same cycle requires a systematic organizational approach. We have built that system deliberately and we are excited to expand our redevelopment portfolio across MMR,” she said.
