Modis Navnirman Appointed for Rs160 Crore Redevelopment of Iconic Kandivali High-Rise

Mumbai, March 4, 2026: Modis Navnirman Limited, a real estate developer specializing in urban renewal, has been appointed to lead the redevelopment of the New Chitra Co-operative Housing Society Ltd. located in Kandivali West. The project marks a significant transition for the site, as the existing 14-story structure—once considered a landmark when it was completed over three decades ago—will be demolished to make way for a premium, modern commercial-cum-residential tower, the company said in a press release.

The ambitious project spans a land parcel of approximately 2,300 square meters and is projected to generate an estimated Gross Development Value (GDV) of Rs160 crore. Designed to meet contemporary standards of safety and sustainability, the new development will feature thoughtfully planned residences and curated commercial spaces. The tower is set to include state-of-the-art amenities, energy-efficient systems, and smart building technologies, aligning the aging property with current environmental and structural norms.

Existing members of the housing society are expected to see a significant enhancement in their quality of life. The redevelopment plan includes larger, well-designed homes with modern layouts, upgraded infrastructure, dedicated parking, and enhanced fire-safety features. Situated in the rapidly evolving corridor of Kandivali West, the project benefits from seamless connectivity and robust social infrastructure, making it a strategic asset for both residents and investors.

Commenting on the development, Mahek Modi, Whole-Time Director and Chief Financial Officer, emphasized the weight of the undertaking. “Redeveloping one of the city’s earliest high-rise structures is both a responsibility and an opportunity. This project represents the evolution of Mumbai’s skyline, where legacy buildings are transformed into safe, modern, and premium developments. At Modis Navnirman, we are committed to delivering projects that combine design excellence, transparency, and long-term value creation for residents and stakeholders alike,” he said.

The company’s leadership views this project as a cornerstone of the city’s broader urban transformation. Dinesh C. Modi, Founder, added, “Redevelopment is central to Mumbai’s next phase of growth. Our focus is on unlocking value in aging assets while creating high-quality spaces that enhance lifestyles and strengthen communities. This mandate reinforces the trust that societies place in us to execute responsibly and deliver on time.”

This latest appointment further bolsters Modis Navnirman’s expanding portfolio across the Mumbai metropolitan region. By partnering with aging housing societies, the firm continues to establish itself as a key player in converting legacy properties into future-ready, premium assets.