ZaobaWadi Redevelopment to Give 627 Tenants 550-Sq-Ft Homes in Marine Lines

250-Year-Old ZaobaWadi Set for Major Redevelopment

Marine Lines’ historic ZaobaWadi is set for a major transformation through a cluster redevelopment project that will provide significantly larger homes to 627 existing tenants.

Under the redevelopment plan, tenants currently living in homes of around 150 square feet will receive new rehabilitation apartments measuring approximately 550 square feet. The project is expected to bring modern housing to families who have lived in the area for generations while creating a new luxury residential destination in South Mumbai.

The nearly 250-year-old ZaobaWadi is located near the Ram Temple in Marine Lines and has traditionally been associated with the Pathare Prabhu community. Its aging structures are now planned to be replaced with modern residential buildings.

627 Tenants to Get Larger 550-Sq-Ft Homes

One of the key highlights of the project is the substantial increase in the size of rehabilitation homes. The 627 eligible tenants are expected to receive apartments of about 550 square feet, compared with their existing homes of roughly 150 square feet.

The rehabilitation tower has already reached the plinth stage. According to Shreepati Group Chairman Rajendra Chaturvedi, the new homes are expected to be handed over to tenants within the next two and a half years.

The redevelopment is designed to provide residents with safer and more spacious homes while preserving their connection to the Marine Lines neighborhood.

Luxury Sea-Facing Towers Planned at 300 Metres

Along with the rehabilitation component, the project will introduce ultra-luxury residential towers aimed at the premium housing market.

The saleable towers are planned to reach around 300 metres in height and will offer sea-facing residences. The development is expected to add a new luxury housing option in one of South Mumbai’s most established locations.

Tapas Chaturvedi, Managing Director of Shreepati Group, said the saleable buildings will form an important part of the overall redevelopment plan.

Construction of the saleable component is expected to begin soon.

Shreepati, MICL and Godrej Properties Join Hands

The 2.5-acre ZaobaWadi redevelopment is being undertaken through a partnership between Shreepati Developers, MICL and Godrej Properties.

Each company will have a specific role in the project. Godrej Properties will manage the branding and sales of the saleable residential component, while MICL will take responsibility for constructing the residential towers.

Shreepati Developers will focus on the rehabilitation component and the redevelopment of homes for the existing tenants.

The partnership combines redevelopment experience, construction capabilities and a strong sales and branding platform for the project.

ZaobaWadi Project Has Rs 6,000 Crore Revenue Potential

The redevelopment has an estimated revenue potential of around Rs 6,000 crore. The figure could increase further depending on market conditions and the performance of the luxury housing segment.

The saleable portion will primarily consist of sea-facing properties targeted at the ultra-luxury market. The project's location in Marine Lines is expected to support demand because of the limited availability of large development parcels in South Mumbai.

The association with Godrej Properties is also expected to strengthen the project's position in the premium residential market.

2.5-Acre Development to Add Luxury Housing in South Mumbai

The project covers approximately 2.5 acres in Marine Lines. Development rights that were earlier jointly held by MICL and the Shreepati Group have been transferred to Godrej Properties as part of the development arrangement.

The project is proposed to carry joint branding, giving Godrej Properties an additional presence in South Mumbai’s luxury housing market.

Marine Lines has limited land availability, making large redevelopment projects particularly significant for the area's residential market. The ZaobaWadi project is expected to combine tenant rehabilitation with new premium housing and modern infrastructure.

Gaurav Pandey, Managing Director and CEO of Godrej Properties, said Mumbai remains an important market for the company and that its premium and luxury developments in the city have received a strong response. He also described Marine Lines as one of Mumbai’s prominent residential addresses.

With construction progressing on the rehabilitation building and work on the saleable towers expected to start soon, the ZaobaWadi redevelopment is set to reshape a historic part of Marine Lines while giving existing residents much larger homes.