Runwal Enterprises has secured rights to redevelop two prime land parcels in south Mumbai’s Marine Lines and Bandra, with a combined gross development value exceeding Rs 5,000 crore.

Both projects will be executed under the cluster redevelopment framework outlined in Regulation 33(9) of the Development Control and Promotion Regulations (DCPR), a key initiative by the state government to fast-track urban renewal and infrastructure growth. The developer plans to invest Rs 2,500 crore, involving over 600 society members, and is seeking government approvals. The Marine Lines project, with a sea-view location near Saifee Hospital, will have five lakh sq. ft. of development potential, while the Bandra project, spread over 2.5 acres, will generate significant revenue from its free-sale components. Both projects are expected to begin next financial year.

Subodh Runwal, Director of Runwal Enterprises, mentioned, “These concluded agreements are for the redevelopment of two private housing societies, including the revival of the Marine Lines project, which had been stalled for over 10 years."