Advertisement
Mumbai-based developer Aspect Realty is set to deliver more than 600 flats under the Slum Rehabilitation Authority (SRA) project in Worli by January next year. The company had taken over the INR 450-crore project last year, which had been stalled for 17 years. Aspect Realty cleared all pending dues of the previous developer and restarted construction with fresh funding. Each 300 sq ft flat includes a living/dining area, kitchen, bedroom, and separate bath and toilet, and will come with a full set of essentials. The project offers long-awaited ownership and security to resident families.
Aspect Realty, a Mumbai-based real estate developer, has announced that it expects to hand over over 600 flats developed under the SRA project in Worli by January next year. The company took over the INR 450-crore project last year, which had been stalled for 17 years due to financial and administrative issues. Upon taking charge, Aspect Realty cleared all pending dues of the previous developer and restarted construction with fresh funding, reviving a long-delayed housing project. Advertisement
The flats are designed as compact 300 sq ft units, each consisting of a living and dining area, a kitchen, one bedroom, and a separate bath and toilet. Every flat will be delivered with a full set of essential fittings, ensuring residents can move in comfortably. The project provides a vital housing solution for families who have been waiting for ownership and stability for nearly two decades.
Kedar Chapekar, CEO of Aspect Realty, explained that taking over a stalled project of this scale brought multiple challenges. He stated that the company's team focused on fast-tracking construction while maintaining quality standards throughout. Chapekar emphasized that nearing the completion of over 600 SRA flats is a significant achievement, as it provides families with ownership, security, and a long-term home solution.
The Worli SRA project highlights the difficulties faced by long-pending rehabilitation schemes in Mumbai, where projects often remain on hold due to funding shortages or administrative delays. Aspect Realty's intervention demonstrates how clearing past dues, injecting fresh capital, and strong project management can successfully revive stalled developments. The project also reflects growing efforts by developers to complete SRA initiatives efficiently, providing housing to thousands of eligible residents across the city.
Source PTI
5th Jun, 2025
25th May, 2023
11th May, 2023
27th Apr, 2023
Advertisement
Facebook
Whatsapp
