Kalpataru Bags Major Kandivali East Cluster Redevelopment Project with Rs 1,250 Crore GDV Potential
Mumbai, May 26, 2026: Mumbai-based real estate developer Kalpataru Limited has announced the signing of a massive cluster redevelopment project in Ashok Nagar, Kandivali East. Dubbed the “Ashokgram Cluster,” the venture integrates five adjacent societies spanning approximately 2.8 acres of prime land. The project features a free-sale potential of around 0.37 million square feet of carpet area and holds an estimated Gross Development Value (GDV) of roughly Rs 1,250 crore. This announcement follows a major Rs 1,400 crore redevelopment project secured by the developer in Andheri East earlier this March, the company said in a press release.
The upcoming development marks Kalpataru’s seventh major footprint in the Kandivali East micro-market, where it has already delivered six landmark residential projects. Reflecting on the milestone, Parag Munot, Managing Director of Kalpataru Ltd. stated: “At Kalpataru, we view redevelopment as a transformative journey that breathes new life into existing communities. Our latest venture in Kandivali East is envisioned as a future-ready neighbourhood that seamlessly blends its local heritage with world-class planning, expansive green spaces, and modern amenities. We are honoured to partner with the local community to set a new benchmark for high quality, sustainable urban living while preserving it’s unique character.”
Designed as a residential development complete with high-street retail, the project capitalizes on its location within a well-connected and established neighborhood. He further noted: “This cluster redevelopment, envisaged as a residential development with high street retail, is strategically positioned within a thriving micro-market, offering residents excellent connectivity to major road networks and metro lines. The project’s appeal is further bolstered by its proximity to a robust social infrastructure, including premier educational institutions, leading healthcare centres, and vibrant retail and business hubs.”
