Godrej, MICL Revive Zaoba Wadi with 325m Luxury Tower

A nineteenth-century wadi in south Mumbai is set to make way for a 325-metre luxury residential tower.

Godrej Properties is joining Man Infraconstruction Ltd (MICL) and Shreepati Group. Together they are reviving a redevelopment project that had been stalled for over 15 years.

Zaoba Wadi in Thakurdwar spans about 2.5 acres. It is home to around 625 tenants living in traditional chawls and low-rise buildings, some used for commercial purposes.

Under the plan, tenants will get flats of about 550 sq ft each. This compares with their existing 150-200 sq ft units.

A Stalled Project Revived

Redevelopment had stalled since Shreepati Group acquired rights in 2011. Discussions began in early 2024 for MICL to join as development manager.

MICL formally partnered on the project in 2025. Since then, initial permissions have been secured, and developers have been acquiring remaining rights from occupants.

The tower was initially planned at over 800 feet, but permission was later secured for a taller structure. Talks with Godrej Properties had been underway for months before being finalised last week.

What the Developers Said

Manan Shah is MICL's managing director. He said the deal with Godrej unlocks the project's full potential and marks an important milestone for MICL.

He added that early cash flows will give MICL greater financial flexibility to pursue new opportunities in Mumbai.

He said MICL will also recoup its existing investment of Rs 300 crore through a revenue-sharing arrangement, with the project jointly branded.

Godrej Properties said the project has an estimated revenue potential of around Rs 6,000 crore.

Gaurav Pandey, the company's MD and CEO, said Mumbai remains a key market, with south Mumbai projects seeing a strong response. He called Marine Lines one of the city's most prestigious addresses.

Also Read: Ramkrishna Nagar in Khar to Get Cluster Redevelopment

Project Details

The tower will stand 325 metres tall. It will have about 600,000 sq ft of saleable carpet area and around 1.3 million sq ft of rehabilitation carpet area.

The project will comprise four- and five-bedroom luxury residences. Rehabilitation is expected to complete in four years, and the saleable component in five years.

Also Read: Kamathipura Redevelopment Deal Signed in Mumbai

About Zaoba Wadi

Zaoba Wadi sits within the old Girgaon-Thakurdwar neighbourhood. Its entrance is marked by the heritage-listed Zaoba Ram Mandir, reportedly built in 1882.

It was originally an Anglo-Indian wada belonging to a Pathare Prabhu family, one of Mumbai's oldest settler groups. Its white marble deity gave it the name "Gora Ram."

The redevelopment is part of a wider transformation of south Mumbai's old wadi neighbourhoods.

Amar Wadi and Pimpal Wadi near CP Tank were among the earlier ones redeveloped, while parts of Mangal Wadi, Khotachi Wadi, and Chikal Wadi have also faced redevelopment pressures.

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