Project Details
Kalpataru Limited signed a large cluster redevelopment project comprising five adjacent societies in Ashok Nagar, Kandivali East, Mumbai, referred to as the "Ashokgram Cluster". The project spans approximately 2.8 acres of prime land with free sale potential of approximately 0.37 million square feet carpet area. The estimated Gross Development Value (GDV) of the project is around ₹1,250 crore.
Management Commentary
Mr. Parag Munot, Managing Director of Kalpataru Ltd., stated that the project is envisioned as a future-ready neighborhood blending local heritage with world-class planning, expansive green spaces, and modern amenities. He noted the project is strategically positioned within a thriving micro-market with excellent connectivity to major road networks and metro lines, and proximity to social infrastructure including educational institutions, healthcare centers, and retail/business hubs.
Company Context and Track Record
The project reinforces Kalpataru's leadership in Kandivali East, where the company has already delivered six landmark developments: Kalpataru Jharokha, Kalpataru Vatika, Kalpataru Gardens, Kalpataru Tower, Kalpataru Avenue, and Kalpataru Vienta. This follows the company's announcement of a ₹1,400 crore redevelopment project in Andheri East in March 2026.
Company Background
Kalpataru Limited is one of the largest developers in Mumbai, Maharashtra, focusing on luxury, premium, and aspirational residential, commercial, and retail projects, integrated townships, lifestyle gated communities, and redevelopments. The company has 83 completed projects aggregating more than 23.3 Million Square Feet of Developable Areas and 31 Ongoing and Forthcoming Projects spread over approximately 43 Million Square Feet across multiple cities including Mumbai, Thane, Panvel, Pune, Lonavala, Nagpur, Noida and Hyderabad.