HIRANANDANI CHEMBUR REDEVELOPMENT - MAITRI PARK & SHRINAGAR — New Project Coming Up in Chembur East & Chembur West, Mumbai

Major Redevelopment in Chembur East and West

House of Hiranandani has signed two agreements to redevelop five housing societies across 15 acres in Chembur, Mumbai, with an investment of over Rs 3,200 crore. The redevelopment comprises Maitri Park in Chembur East, admeasuring about 9 acres and Shrinagar Society in Chembur West, a cluster of four societies admeasuring about six acres. The five housing societies comprise 459 tenants.

Scale and Timeline

These projects are expected to unlock over 1.7 million sq ft of development potential and have a gross development value exceeding Rs 5,000 crore. The company is in the process of securing necessary approvals and plans to complete the redevelopment within the next 4-5 years.

Developer Track Record

Hiranandani Group was established in 1978 and is one of the largest real estate developers in India with projects across Mumbai, Bengaluru, Chennai, and Hyderabad. With a robust track record of more than 40 delivered projects with over thousands of families, it has continuously proven to keep the client as a focal point in the designing, planning and construction of all its development. House of Hiranandani is known for developing integrated communities in Mumbai Metropolitan Region (MMR), Bengaluru, Hyderabad and Chennai.

Chembur's Emerging Infrastructure

The redevelopment occurs against a backdrop of significant infrastructure improvements in the locality. Chembur is set for rapid growth as Metro Line 2B nears completion, with the 23.6-kilometre corridor hosting 20 stations that knit together east–west and north–south routes. Mumbai's public transport network has gained a new interchange point with the opening of the Chembur station on Metro Line 2B, bringing three modes of public transport—metro, suburban railway and monorail—within a short walking distance. Chembur East is well-connected to other parts of Mumbai through the Mumbai Suburban Railway network, with Chembur railway station and Lokmanya Tilak Terminus nearby on the Harbour Line.

Market Context

Enhanced connectivity has already lifted demand among professionals, young families and investors; average home prices have climbed by about eight per cent in the past year. Combined with the Eastern Freeway, Santacruz-Chembur Link Road, Monorail, Eastern Express Highway, BKC Connector and other upcoming metro links, the line cements Chembur's standing as a mobility-rich hub with swift access to commercial centres such as BKC, Lower Parel and Andheri.