📋 Tender Overview
Scope : Redevelopment of Residential Complex in Louis Wadi locality in Thane, Maharashtra.
Dosti Realty has forayed into housing society redevelopment and is looking to invest over Rs 1,000 crore over the next two to three years towards building a portfolio in this segment. For its maiden project, the company has secured rights to redevelop a residential society spread over a 2.5-acre land parcel in Louis Wadi locality in Thane, Maharashtra.
The move is part of the company's growth strategy and would bolster its development portfolio in the redevelopment space on a larger scale. Specifically, it is eyeing prime society redevelopment across the Mumbai Metropolitan Region (MMR). The investment in the redevelopment projects will primarily focus on tenant resettlement, construction, and obtaining the necessary approvals.
The project in Thane has a revenue potential of around Rs 500 crore, and is set for commencement next year, with completion expected by 2027-end. The land parcel has a cumulative estimated development potential of 3.10 lakh sq. ft. carpet area, with 2.10 lakh sq. ft. available for sale.
