B-Right Real Estate’s subsidiary has taken over the redevelopment of the long-stalled UCO Bank Employees CHSL in Andheri West, addressing decade-long delays and unsafe living conditions. The project spans 2,260 sq. meters with an estimated ₹256 Crore GDV, promising relief to 33 families and enhancing urban housing infrastructure.
B-Right Real Estate Limited, through its step-down subsidiary M/s. B-Right RMBD Realtors Private Limited, has entered into a pivotal Development Agreement with the United Commercial Bank Employees Co-Operative Housing Society Limited. This agreement revives the stalled redevelopment of UCO Bank Employees’ CHSL (Safalya) in Andheri West, originally launched in 2015 but delayed for over a decade.
The redevelopment project addresses the unsafe living conditions and rising rental burdens faced by 33 families, who had suffered from stagnation and lack of developer communication. By resolving issues with previous developers, investors, and members, B-Right aims to restart and successfully complete the redevelopment, thereby restoring community trust and enhancing urban housing infrastructure.
This project covers approximately 2,260 square meters with an estimated Gross Development Value (GDV) of Rs. 256 Crore. Its completion promises significant social impact by providing much-needed housing relief and strengthening the urban fabric in one of Mumbai’s key locales.
Notable updates:
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Agreement involves redevelopment of UCO Bank Employees’ cooperative housing society at Andheri West.
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The stalled project had affected 33 families facing unsafe living conditions.
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B-Right RMBD Realtors resolved prior developer and investor issues to restart the project.
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Land parcel spans about 2,260 sq. meters with a GDV estimated at Rs. 256 Crore.
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The initiative aims to revitalize community confidence and upgrade urban housing stock.
Sources: ScanX Trade, B-Right Real Estate official filings, Finance Saathi.