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Mumbai, Maharashtra, India:
Slum Redevelopment and Society Redevelopment is a pipe dream for 1000’s of individuals residing in dilapidated housing constructions within the MMR. In a metropolis the place land is scarce and land value is skyrocketing, brownfield tasks are the one choices accessible for town to accommodate a mean day by day migration of 200 folks in Mumbai. The case for redevelopment is extra pressing as a result of greater than 50% of Mumbai’s land continues to be underutilised, out of which slums occupy 24% % of the land. The remainder of the land for redevelopment lies with the housing societies and varied authorities authorities like Bombay Port Trust, Indian Railways, Airport Authority and so on.
Besides, greater than 50,000 buildings in MMR are dilapidated, and astonishingly half of such constructions are located within the coronary heart of the monetary capital and its close to suburbs. Redevelopment is but to yield the meant outcomes regardless of varied legislative initiatives by the Maharashtra authorities and monetary assist from the banking sector. Today, discovering a stable and dependable developer is among the important challenges confronted by all stakeholders, particularly the housing society. The most important consider efficiently implementing and executing redevelopment is the choice of a great developer.
Speaking about their profitable redevelopment expertise in some of the prosperous areas of Mumbai, Mr Aftab Sheik from Navroze Housing Society at Pali Hill mentioned, “We are extremely pleased with how our developer Ashar Group transformed our old Navroze into one of India’s most sought-after addresses. Today, it is renowned for offering an iconic lifestyle and setting new standards for redevelopment in Pali Hill with its uber-luxury high-construction quality.” At Rs. 1.35 Lakhs per sq. foot, Ashar Navroze has recorded one in all Mumbai’s highest-value offers in latest historical past. According to registry info, a 5000 sq. ft sea view flat has been offered for Rs. 66 crores. Navroze distinguishes itself with its columnless ground plate, panoramic sea views, and stone-cladded façade.
The different redevelopment mission by the Group is the under-construction luxurious tower known as Ashar Titan in Ghatkopar. Mr Mahesh Madhani from Ghatkopar’s Mahavir Jyot Society highlighted why they thought Ashar could be the higher developer for the redevelopment. “Before choosing a developer, we conducted extensive research through our consultants and felt that Ashar is one of the most dependable partners in MMR for redevelopment. They have accommodated all our requests from cross ventilation to surface car parks and have the most committed team of specialists who ensure consistent and straightforward communication with the society.” The tenants vacated the premises in April 2022, and demolition began in May 2022. Ashar Titan has already accomplished 5 slabs in 4 months and is on observe to ship the keys earlier than schedule.
The rebuilding of enormous housing societies with quite a few residents is often difficult because of the complexities of tenant calls for and unanimity in society. However, Ashar Group has grow to be a favorite amongst Kalwa residents for bringing the tallest tower of Kalwa by means of one of many largest redevelopments in Thane.
Mahesh Pen, Chairman of NMM Housing Society, expressed an analogous view about their expertise working with Ashar Group. “NMM was one of the largest housing societies in Kalwa. When we decided to go for redevelopment, we were only looking for three things from a developer: reputation, timely execution capability and financial stability. With their Zero RERA complaint track record and goodwill, Ashar Group got an almost unanimous vote during the tendering stage.” He is optimistic in regards to the present growth on the web site and expressed confidence that the developer will ship their properties earlier than schedule.
With its continued success of 1.5 million sqft development work within the society redevelopment section, Ashar Group has now entered SRA redevelopment with a brand new 2 million sqft mission in Thane’s most prime location – Majiwada. The mission was caught for over eight years earlier than Ashar Group acquired it in June 2022 and is now on observe to launch this November. Ashar Group’s triumphant foray into slum redevelopment is a crucial milestone, significantly in mild of the truth that greater than 500 SRA tasks have did not take off up to now 15 years. According to latest SRA knowledge, greater than a lakh slum inhabitants have been impacted by these “dead” tasks.
Ashar Group is among the main actual property manufacturers with over 7 million sq. ft. of accomplished residential, business, and retail tasks. Moreover, the Group has over 10 million sq. ft. of growth prospects throughout the Mumbai Metropolitan Region (MMR) in Bandra, Ghatkopar, Thane, Mulund, Vile Parle and Nasik. Adding to its wealthy portfolio of upcoming tasks is – a township mission in Dombivli and a super-luxurious bungalow scheme at Lonavala. With an enviable portfolio, Ashar has emerged as some of the most well-liked actual property manufacturers with zero RERA complaints and the quickest mission execution time of three years. The model is understood for its uncompromising values, customer-centric angle, sturdy engineering, and transparency in business operations.
