Adani Realty revives Khatau Mill Land Project in Mumbai after SC decision

Bengaluru: Adani Realty revived his plan to develop about 20 hectares of land that previously belonged to textile firm Khatau Mill in the Borivali (Eastern Servent), following a recent High Court decision on the real estate project for real estate projects, two people said in the knowledge. The developer acquired the Mill Land, located near the Sanjay Gandhi National Park in Borivali, a few years ago for a Greenfield Residential Township. The project planning and design process began about two years ago. However, the project went like several others in the limbo following the ruling of the National Green Tribunal (NGT) of 2024, which said that large-scale real estate projects within a 5km radius of ecologically-sensitive zones such as forests or mangroves need the central government’s environmental clearance. This has led to confusion and delays for developers. In August, the regulatory obstacle was removed when a Supreme Court ruling enabled the state authorities to resume the environmental impact study of real estate projects in the Mumbai Metropolitan Region (MMR) and Pune. The decision removed the NGT-ordered approval process, which returned to projects to secure regular state clearances. The ruling came after the Industrial Body Confederation of Procedure Property Developers of India-Maharashtra Chamber of Housing Industry (Credai-Mchi) filed a written petition, with Intervensions of Credai National and Godrej Properties Ltd. ‘Adani’s Borivali project is in the vicinity of a national park which is an ecosensitive area. Developer resumed to the project plan and will soon apply for approvals, ”said the first of the two person quoted earlier, both of which spoke on condition of anonymity. Adani Realty’s project is one of the many who were stopped or delayed due to the project. Most important Greenfield projects affected. Once the approvals are in, the project will be launched in phases. It will be one of the larger Greenfield projects of the group, which has a number of redevelopment projects in the city, “said the second person. A spokesman for Adani Realty did not respond to Mint’s inquiries. Adani Realty is a joint venture partner with Mumbai -based marathon in a premium South, located on the 12-field Khatau Mill connection in the Central Mumbai area of Byculla. Most valuable real estate market, which gradually becomes the core focus on real estate. Crore spanning 142 hectares will be the largest redevelopment project in the country. -And Development Project is developed by Navbharat Mega Developers Pvt. The way they went deep into each geography, built differentiated products and built their team, signal their focus on the sector. Unlike Adani, many large corporate groups have the real estate business, but for most it is not a priority, “said Anuj Puri, chairman of the property advice Anarock Group. Earlier this year, a subsidiary of Adani Group also acquired a 1.1 hectare of large plot of land in South Mumbai’s Tony Carmichael Road-Locality for more than £ 170. Adani Realty is also going to build a 1000 hectares of large township project in Navi Mumbai, where the conglomerate developed a new international airport.