Adani Realty plans to announce pre-bookings for its 27-acres premium residential project located at the historic Khatau Mill land, off the Western Express Highway, in Borivali East, Mumbai, according to housing market sources.
Though prices of apartments at Adani Realty’s Borivali East project are yet to be officially announced, the official website of the company has put up a “pre-booking expected price range” of between Rs 2.20 crore and Rs 2.60 crore for a 2 BHK unit of 750 square feet to 850 square feet carpet area and between Rs 3.20 Cr and Rs 4 crore for a 3 BHK unit of 1000 square feet to 1200 square feet carpet area.
The Adani Realty residential project had been in limbo for a while due to legal issues, but after a recent Supreme Court ruling on environmental clearance for real estate projects, the project is all set to take off, according to market sources.
Like several other real estate projects, the Adani Realty residential project too was in limbo after a 2024 National Green Tribunal (NGT) ruling, which had stated that large-scale real estate projects within a 5-km radius of ecologically sensitive zones such as forests or mangroves need environmental clearance from the central government.
However, the real estate industry body Confederation of Real Estate Developers’ Associations of India-Maharashtra Chamber of Housing Industry (CREDAI-MCHI) filed a writ petition, with interventions from Godrej Properties Ltd.
As a result, in August, a Supreme Court judgment removed the regulatory hurdle and allowed state authorities to resume environmental impact assessment of real estate projects in the Mumbai Metropolitan Region (MMR) and Pune. The Supreme Court ruling also removed the NGT-ordered approval process, allowing projects to go back to securing regular state clearances.
Since Adani Realty’s Borivali project is in the vicinity of the ecologically sensitive Sanjay Gandhi National Park, it had to be put on the back burner, but after the favourable Supreme Court judgment, work on the project has resumed, and the company will apply for approvals soon.
Over the years, Borivali East, on the Western suburban railway line, has emerged as a well-known and popular area in Mumbai and has become a go-to location because of its good connectivity to key areas in Mumbai as well as its proximity to the Sanjay Gandhi National Park.