MUMBAI: As one of India’s tallest residential buildings, Avaan Tower 2, rises in Mumbai’s Tardeo, three adjoining residential societies near the landmark Bhatia Hospital are set to be demolished as part of a major cluster redevelopment project.
Man Infraconstruction, promoted by Bharatiya Janata Party MLA Parag Shah, has acquired development rights for Tardeo Court, Tardeo Apartments and Sethna House, all located on Javji Dadaji Road.
The company on Wednesday announced the acquisition of development rights spanning over 1.05 acres in south Mumbai’s prime residential belt. This marks its third project in south Mumbai, with a projected completion timeline of five years.
“It is a marquee cluster redevelopment project in Tardeo. The project, internally referred to as Tardeo 2.0, carries an estimated sales potential exceeding ₹2,000 crore over the next 4–5 years,” the company said in its announcement.
The acquisition includes redevelopment rights for Tardeo Court and Tardeo Apartments, along with the outright purchase of Sethna House. The three plots will be redeveloped under the Cluster Redevelopment Scheme 33(9). A source told Hindustan Times that Sethna House has already been acquired.
Man Infraconstruction is already developing a high-rise project, Aaradhya Avaan, located behind these three buildings. The new project will be executed through Man Aaradhya Infraconstruction LLP, in which MICL Group holds an approximately 50.5% equity stake.
Despite being positioned as an extension of the broader Tardeo development, the amenities of Aaradhya Avaan will not be shared with the redeveloped buildings.
Avaan Tower 2, currently under construction at Tardeo, is expected to rise to 306 metres, making it one of India’s tallest residential towers upon completion. The upcoming redevelopment project, however, will be comparatively shorter due to the smaller plot size.
Commenting on the development, Manan Shah, managing director, MICL, said, “The Group’s south Mumbai journey is defined by scale, speed, and consistent market absorption. We are happy to have achieved a hat-trick in South Mumbai with our latest acquisition at Tardeo, where we plan to have boutique ultra luxury apartments.”
Apartments in the new project are expected to range between 3,500 and 5,500 sq ft. According to a real estate source quoted by Hindustan Times, the over 90 existing families are likely to receive approximately 80% additional area in their new homes.
Existing shops on the premises will also be accommodated and will form the only retail component of the project, which is otherwise planned as a purely residential development.
