Regulatory Disclosure Details

Key Development

Modis Navnirman Limited has been appointed as the developer for the redevelopment of Neel Kiran Co-operative Housing Society Ltd., a residential society located in Khar West, Mumbai.

Project Details

  • Location: Khar West, Mumbai
  • Project Type: Residential society redevelopment
  • Gross Development Value (GDV): Approximately ₹250 crore
  • Society Name: Neel Kiran Co-operative Housing Society Ltd.

Selection Process

The appointment follows a redevelopment selection process conducted by the society, where members selected Modis Navnirman Limited as their preferred redevelopment partner.

Strategic Significance

The project represents the company's expansion into one of Mumbai's most prestigious residential markets. Khar West is described as one of the city's most sought-after residential neighborhoods with strong demand, established social infrastructure, and enduring appeal among homebuyers.

Management Commentary

Mr. Dinesh Modi, Chairman & Managing Director, stated: "We are honoured by the confidence and trust placed in us by the members of Neel Kiran Co-operative Housing Society. Redevelopment is ultimately a partnership built on transparency, commitment and shared vision... We strive to create developments that enhance the quality of life for residents, unlock the full potential of valuable urban land parcels and contribute positively to the neighborhoods in which we operate."

Next Steps and Conditions

The project is subject to:

  • Execution of definitive documentation
  • Receipt of requisite approvals from the society
  • Receipt of approvals from relevant authorities

Company Background

Modis Navnirman Limited is described as a Mumbai-based real estate development company focused on redevelopment and urban renewal projects across the Mumbai Metropolitan Region. The company emphasizes transparency, execution excellence, and long-term stakeholder partnerships.

Safe Harbour Statement

The document includes a standard safe harbor statement noting that certain statements may be forward-looking and subject to risks and uncertainties including regulatory changes, economic developments, and other factors that could cause actual results to differ materially.

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