Sattva Group's Strategic Entry into Mumbai's Booming Redevelopment Market
In a significant expansion move, Bengaluru-based real estate developer Sattva Group has officially entered the Mumbai Metropolitan Region (MMR) property market. The company announced six major residential and commercial redevelopment projects spanning over 8 million square feet, with a total gross development value estimated at approximately ₹11,000 crore.
Project Details and Timeline
The ambitious redevelopment initiative will unfold across key micro-markets in Mumbai, including Parel (Sewri), Prabhadevi, Goregaon East, Vile Parle East, Powai, and areas near the Bandra Kurla Complex (BKC). Sattva Group aims to deliver more than 2,500 rehabilitation homes alongside over 2,000 newly-constructed residences through these projects.
Construction activities are scheduled to commence this year, with phased development continuing until 2032. The first project is expected to be completed and delivered by 2028, marking a significant milestone in the company's expansion strategy.
Urban Renewal and Strategic Vision
Bijay Agarwal, Managing Director of Sattva Group, emphasized the timing and importance of this expansion. "Mumbai is entering a defining phase of urban renewal, driven by the need to replace ageing structures with safer, well-planned, future-ready housing," he stated in an official announcement. "Redevelopment requires clarity, discipline and long-term commitment, values central to Sattva's growth over the past three decades. Our entry into Mumbai is a strategic extension of our legacy of delivering large, technically complex projects on time and with consistency."
The company's entry coincides with Mumbai's extensive structural renewal phase, where more than 16,000 ageing buildings have been identified as requiring redevelopment. This creates substantial opportunities for developers with expertise in large-scale urban transformation projects.
Mumbai's Redevelopment Landscape
Sattva Group joins a growing list of non-Mumbai developers entering India's most valuable real estate market, primarily attracted by massive redevelopment potential. Other Bengaluru-based developers, including Prestige Estates Projects Ltd and Puravankara Ltd, have already undertaken projects to redevelop old housing societies and slum pockets in the city.
Last year, Gurugram-based DLF Ltd launched its first slum rehabilitation development in Mumbai's suburban Andheri locality, further highlighting the trend of national developers targeting Mumbai's redevelopment sector.
Market Potential and Industry Insights
According to a September 2025 report by property advisory Knight Frank India, approximately 910 societies in Mumbai have initiated redevelopment processes, unlocking 326.8 acres of potential buildable area. The momentum in this sector continues to accelerate, with established Mumbai-based developers like Mahindra Lifespace Developers Ltd, K Raheja Corp, and Rustomjee Group undertaking multiple redevelopment projects across the city.
The Knight Frank report further projects that society redevelopment alone could unlock more than 44,000 new homes within Brihanmumbai Municipal Corporation (BMC) limits by 2030, representing a potential market value of nearly ₹1.3 trillion.
This strategic expansion positions Sattva Group to capitalize on Mumbai's urban transformation while contributing to the city's housing infrastructure development through sustainable and well-planned redevelopment initiatives.
