Mumbai-based Ashar Group has obtained Occupation Certificates (OCs) for two redevelopment projects — Ashar Arize in Kalwa, Thane, and The Legend by Ashar in Pali Hill, Bandra — both 20 months ahead of their registered RERA deadlines.
The two projects together account for over 1,200 homes delivered to residents.
Early completions
The early completions stand out in a market where delays are common. According to ANAROCK data cited by the company, over 40 per cent of under-construction housing inventory in the Mumbai Metropolitan Region (MMR) has faced timeline overruns. Redevelopment projects, which account for an estimated 60–65 per cent of new housing supply in Mumbai’s island city and older suburbs, carry a disproportionate share of that delivery risk.
Ashar Arize, launched in April 2022 with a RERA-registered completion date of 2027, is a 4-acre development in Kalwa comprising 40-storey towers with 1 and 2 BHK units. The project includes approximately 20,000 sq. ft. of retail space occupied by national brands, along with amenities including an infinity pool, gymnasium, and clubhouse.
The Legend by Ashar is positioned at the ultra-luxury segment in Pali Hill, Bandra, an area where land scarcity and complex title structures make redevelopment particularly challenging.
Ayushi Ashar, Director of Ashar Group, attributed the early delivery to systems built around approvals management, consent mechanics, construction sequencing, and cash flow discipline — factors she described as distinct from greenfield development.
Founded in 2001, Ashar Group has delivered over 1.25 crore sq. ft. and has 1.75 crore sq. ft. under development across locations, including Thane, Ghatkopar, Mulund, Dombivli, and Lonavala. The company claims zero RERA complaints to date.
The group has stated its intent to expand its redevelopment portfolio further across the MMR.