Driving Inclusive Growth: Mumbai’s SRA Model Sets New Housing Benchmarks

Driving Inclusive Growth: Mumbai’s SRA Model Sets New Housing Benchmarks

Mumbai’s ambitious Slum Rehabilitation Authority (SRA) projects are emerging as a

cornerstone in the city’s real estate development narrative. Setting new benchmarks with the

highest number of ongoing and rehabilitated homes, these initiatives are reshaping the urban

landscape while addressing the acute housing shortage in India’s financial capital. The

momentum has attracted both prominent local developers and renowned national players,

making SRA projects a key driver of Mumbai’s real estate growth.

With the demand for affordable housing surging, SRA redevelopment schemes have become

instrumental in transforming slums into modern residential and commercial spaces. This model,

which allows private developers to construct homes for slum dwellers in exchange for

developing portions of the land, has gained significant traction. Mumbai’s real estate

heavyweights like Omkar Realtors, Chandak Group, Transcon Developers alongside national

developers such as Siddha Group, are actively contributing to this transformative journey.

Milestones in SRA Projects

The Chandak Group, a reputed luxury Real Estate brand has also contributed in the SRA space,

with over 3000 homes delivered. The group is currently working on developing over 1 million

sq. ft. of SRA rehabilitation projects across the city. A spokesperson from Chandak Group

underscored the social and economic impact of these projects, stating, “We are committed to

the SRA vision of providing dignified living spaces to the underprivileged. Achieving this record is

not just a business achievement but a social milestone. Our developments ensure that slum

residents are integrated into the broader city framework with better facilities, transportation

access, and a stronger sense of belonging.”

Transforming Lives and Communities

Transcon Developers recently marked a milestone with the phased handover of 148 SRA units

to residents of Sai Durga SRA Co-operative Housing Society in Santacruz. Ms. Shraddha Kedia-

Agarwal, Director, Transcon Developers highlighted the broader implications of such projects,

saying, “The SRA redevelopments have always been at the heart of Mumbai’s housing

transformation. The record number of rehabilitated homes not only helps address the acute

housing shortage in Mumbai but also plays a crucial role in uplifting communities. It’s exciting to

see how these projects transform not just the physical space but also the quality of life for

countless families.”

Siddha Sejal Group, known for its affordable luxury projects, has also made commendable

strides in the SRA segment, recently allotting 884 units in one of its marquee developments in

Central Mumbai. Mr. Samyak Jain, Director, Siddha Group emphasized the importance of

design and community in these projects: “As developers, our goal is to make these new homes

more than just basic shelters. We focus on providing high-quality living spaces that offer

amenities, modern infrastructure, and a sense of community. The record number of

rehabilitated homes speaks to the increasing sophistication of SRA projects and the growing

demand for such developments.”

A New Urban Horizon for Mumbai

As Mumbai continues to grapple with a housing crisis, SRA projects are proving to be a pivotal

solution. By transforming slums into vibrant urban spaces, these initiatives are not only

resolving housing challenges but also fostering economic growth and social equity. Prominent

developers are leading the charge, demonstrating the potential of public-private collaboration

in urban development.

With record numbers of homes rehabilitated and more projects on the horizon, SRA

developments are poised to redefine Mumbai’s urban fabric. This transformation signals a

future where every Mumbaikar can aspire to live with dignity and access modern infrastructure,

marking a significant leap towards the city’s goal of inclusive growth.