In the bustling lanes of Santacruz West, a quiet revolution is reshaping Mumbai's skyline. At the junction of Tagore Road and North Avenue, the top floors of a new residential tower are swiftly rising. This is not another builder-led project, but a pioneering example of residents taking charge of their own future.
The Pearl Queen Blueprint: Society as Promoter
Pearl Queen housing society stands out in a city filled with builder-led redevelopment. Comprising 26 families and a public sector bank, the society chose a path less travelled: self-redevelopment. They appointed Raheja Lofts LLP as a development manager to transform their old ground-plus-six-storey building into a modern 16-storey tower featuring a swimming pool, gym, walking track, and three parking podiums.
Shaival Gandhi, the society's treasurer, confirmed they expect the occupation certificate by mid-2026. The entire project is valued at Rs 150 crore, funded through a non-banking finance company. In this model, the financial benefits are profound. Instead of a builder profiting from surplus flats, the society retains the gains. Members will receive a 60% additional area in their new apartments.
The development manager's fee is unique: approximately 3,000 sq ft on the 16th floor from the tower's free-sale component, which cannot be sold until the occupation certificate is secured. Of the total 24,000 sq ft available for free sale, the society keeps roughly 21,000 sq ft, which includes eight apartments for the open market. Three flats have already been sold, helping retire part of the project's debt, though Gandhi did not disclose the sale prices. Property in the Santacruz-Linking Road belt commands rates above Rs 60,000 per square foot.
Success Stories Across Suburbs: A Model Proven
The success of self-redevelopment is not limited to Santacruz. Last year, on Gudi Padwa in 2024, residents of Purvarang Cooperative Housing Society in Mulund East celebrated outside their brand-new tower with a vibrant procession. Their seven-year journey culminated in a remarkable achievement: a 23-storey tower built without any bank loan, external funds, or a developer.
Milind Mahadik, the society's chairman, revealed they have sold 61 of 62 flats in the free-sale component, worth Rs 87 crore. Families raised the capital by utilising their fixed deposits and provident funds. The society itself marketed the flats through word of mouth and social media.
Another shining example is Chitra CHS near Tilak Nagar station. Residents who once lived in 380 sq ft homes, which builders refused to upgrade beyond 525 sq ft, now enjoy 1,250 sq ft apartments. This was achieved by selling surplus flats created after accommodating all existing members.
At Jingprem CHS in Charkop, owners who moved in years ago handled everything from planning and funding to selecting contractors and tiles. They proudly display a board declaring themselves the first self-redevelopment project without borrowing from financial institutions.
In Chembur, Chitra Cooperative Housing Society celebrated full repayment of a Rs 20 crore bank loan after their redevelopment. Members upgraded from 390 sq ft to 1,250 sq ft homes, with the extra space now fetching monthly rents between Rs 40,000 and Rs 60,000. Their old two-storey structure is now a 19-storey tower.
The Future of Urban Housing in Maharashtra
Housing activist Chandrashekhar Prabhu, who initiated this model over a decade ago, confirms that members of 27 cooperative housing societies have already moved into homes via self-redevelopment, a model now recognised by the state government.
"While they have got a free house, which is multiple times larger than that which was offered by the builders, they also had the unique opportunity to buy extra space as per their affordability," said Prabhu. He cited the example of Sagar CHS in Airoli, where 47 of 92 members have already booked 70,000 sq ft at discounted prices, indicating such strong internal demand that bank loans may become unnecessary.
This resident-driven model flips the traditional script. The cooperative society replaces the builder, architects get direct input from residents, and contractors are appointed by the society. The result is not just larger homes and direct financial control, but a profound shift in power dynamics within Mumbai's real estate landscape, offering a sustainable blueprint for urban renewal across India's metropolitan cities.
