SRA Projects Transform Mumbai’s Real Estate Landscape
Mumbai’s Slum Rehabilitation Authority (SRA) projects are swiftly becoming a cornerstone of the city’s urban transformation, addressing the critical housing shortage in India’s financial capital. These projects, which convert slum areas into modern residential and commercial spaces, are reshaping the real estate sector and offering a much-needed solution to the ever-growing demand for affordable housing.
Since its inception in 1995, the SRA has overseen more than 2,300 projects, providing housing for over 2.5 lakh families. Presently, around 1,700 rehabilitation projects are underway, marking a significant shift in how the city approaches slum redevelopment. The model, which allows private developers to construct homes for slum dwellers in exchange for rights to develop portions of the land commercially, has attracted both local and national players into the sector. Domnic Romell, President of CREDAI-MCHI and Director of the Romell Group, commented on the scale and impact of these projects, stating, “The in-situ rehabilitation model, enabled under Development Control Regulation 33(10), is transforming informal settlements into formal housing, benefiting both developers and residents.”
However, he acknowledged ongoing challenges such as project delays and eligibility disputes, which have, at times, left slum dwellers without proper housing solutions. Despite these hurdles, the broader impact of SRA projects cannot be overstated. The transformation of slum areas into well-planned residential complexes has revitalised neighbourhoods, stabilising Mumbai’s property market and improving the living conditions of countless families. Key players such as the Chandak Group are leading the way, with over one million square feet of rehabilitation projects currently under construction. A spokesperson for the group highlighted the broader social impact, noting, “Our work integrates slum residents into the city’s infrastructure, improving access to transportation, facilities, and creating a stronger sense of community.”
Similarly, Transcon Developers has achieved a major milestone by handing over 148 rehabilitated SRA units in Santacruz, an accomplishment that marks another significant step in Mumbai’s ongoing housing transformation. Shraddha Kedia-Agarwal, Director at Transcon Developers, remarked, “SRA redevelopments have long been central to addressing the city’s housing crisis. They uplift communities and improve the quality of life for families.” As demand for sophisticated housing solutions grows, developers are increasingly focusing on quality, with projects prioritising modern amenities, infrastructure, and community-building. Samyak Jain, Director of Siddha Group, echoed this sentiment, saying, “Our goal is to create more than just shelters. We aim to provide high-quality living spaces that integrate well with the city’s evolving infrastructure.”
The SRA initiatives have proven to be a powerful catalyst in Mumbai’s housing transformation. By turning slums into vibrant, well-connected urban spaces, these projects not only tackle the housing crisis but also promote economic growth and social equity. The success of these efforts underscores the potential of public-private partnerships in driving urban redevelopment. With increasing numbers of rehabilitated homes and ongoing projects, the SRA’s impact is set to continue growing, helping to redefine Mumbai’s urban landscape. These projects are shaping a future where every Mumbaikar can aspire to dignified living conditions, marking a vital step towards inclusive growth and a more equitable city.
