Ashar Group Secures OCs for Two Redevelopment Projects 20 Months Ahead of RERA Deadline

Ashar Group has achieved a major milestone in Mumbai Metropolitan Region’s redevelopment sector by securing Occupation Certificates (OCs) for two premium residential projects — Ashar Arize in Kalwa, Thane and The Legend by Ashar in Pali Hill, Bandra — nearly 20 months ahead of their registered RERA deadlines.

The dual achievement marks the delivery of over 1,200 homes and sets a new benchmark for execution efficiency, quality, and homebuyer trust in a market where project delays have become increasingly common.

According to industry estimates cited by the company, more than 40% of under-construction housing inventory in the Mumbai Metropolitan Region (MMR) has experienced timeline overruns. Against this backdrop, Ashar Group’s early completion milestone highlights its strong focus on timely delivery and operational discipline.

Commenting on the achievement, Ajay Ashar said the company has always believed that credibility and commitment are the foundation of the real estate business.

Ashar Arize | Kalwa, Thane

Launched in April 2022 with a RERA-registered completion timeline of 2027, Ashar Arize is a four-acre premium residential development featuring 40-storey towers with 1 and 2 BHK residences.

The project includes approximately 20,000 sq. ft. of high-street retail space, anchored by brands such as Lenskart and Clove Dental. Amenities include an infinity pool, clubhouse, gymnasium, sports courts, children’s play areas, and elevated sky amenities, positioning it among the prominent branded developments in the fast-growing Kalwa corridor.

The Legend by Ashar | Pali Hill, Bandra

Located in the upscale locality of Bandra, The Legend by Ashar represents the company’s luxury redevelopment offering in one of Mumbai’s most premium and land-constrained real estate markets.

Delivering the project significantly ahead of schedule in a high-complexity redevelopment zone such as Pali Hill demonstrates the company’s execution capability amid legal, regulatory, and construction challenges associated with redevelopment projects.

Ayushi Ashar noted that redevelopment projects require intensive coordination across approvals, consent management, construction sequencing, and financial planning, making timely delivery particularly challenging.

Redevelopment remains one of the most complex segments of India’s real estate sector, especially across MMR, where it contributes an estimated 60–65% of new housing supply in the island city and older suburbs. However, the segment also carries significant delivery and execution risks due to legacy ownership structures, municipal approvals, and construction within densely populated urban areas.

With these early OC approvals, Ashar Group has strengthened its position in Mumbai’s redevelopment market while reinforcing confidence among homebuyers and stakeholders.
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