Modernizing Mumbai: Modis Navnirman’s ₹250Cr Borivali Bet

Modis Navnirman has secured a significant redevelopment mandate in Mumbai following its appointment as the developer for the BOI Staff Sheetal Co-operative Housing Society, located in Borivali West. The project site at Ramnagar on S.V. Road spans approximately 3,924.91 sq. metres and has an estimated gross development value (GDV) of around ₹250 crore.

The redevelopment will involve the construction of a modern residential project incorporating enhanced safety standards, sustainability-focused features, and upgraded lifestyle amenities for residents. The housing society has successfully completed the mandatory 79A procedure in full compliance with statutory requirements, thereby clearing a key regulatory milestone. Subsequently, all society members unanimously approved the appointment of Modis Navnirman, underscoring strong confidence in the company’s redevelopment expertise and execution capabilities.

Commenting on the development, Mahek Modi, Whole-Time Director and Chief Financial Officer, stated that the unanimous mandate reflects the trust placed in Modis Navnirman by the society members. He added that the project further reinforces the company’s commitment to responsible redevelopment and value-driven urban living in Mumbai.

News by Rahul Yelligetti.