Modis Navnirman Limited announced on March 12, 2026, that it has received the Occupation Certificate from competent authorities for its residential project Rashmi Celestia located in Borivali West, Mumbai. This milestone confirms that the project has been completed in accordance with applicable regulatory requirements and approvals, enabling the company to commence the handover process to homebuyers.

Project Details and Specifications

Rashmi Celestia is positioned as a premium mixed-use development strategically located in Borivali West, one of Mumbai's well-connected suburban micro markets. The project combines thoughtfully planned residences with commercial spaces, reflecting the company's commitment to delivering high-quality urban developments.

The development has been designed to cater to evolving urban lifestyles with efficient layouts, modern infrastructure, and integrated amenities. Residents will benefit from enhanced safety features and proximity to Borivali West's established social infrastructure including schools, healthcare facilities, retail hubs, and transportation networks.

Management Commentary

Mr. Mahak Modi, Whole-Time Director and Chief Financial Officer, emphasized that receiving the Occupation Certificate represents an important achievement reflecting the team's commitment to quality construction and timely completion. He noted that Rashmi Celestia has been envisioned as a modern mixed-use development combining residential comfort with everyday convenience.

Mr. Dinesh C. Modi, Founder, highlighted that the successful completion further strengthens the company's presence in Mumbai's western suburbs. He reiterated the company's focus on developing projects that enhance urban living standards while creating long-term value for homeowners and stakeholders.

Strategic Positioning

With the completion of Rashmi Celestia, Modis Navnirman Limited continues to expand its footprint across Mumbai's western suburbs including Borivali, Kandivali, Malad, and Goregaon. The company has developed and delivered multiple residential and mixed-use projects in these areas and currently has several ongoing and upcoming developments.

Company Background

Founded in 2010, Modis Navnirman Limited operates as a redevelopment-focused real estate developer with a strong presence across Mumbai. The company specializes in transforming aging residential and mixed-use properties into modern, high-quality developments through thoughtful planning, engineering excellence, and disciplined execution.

Modis Navnirman Limited has secured a significant redevelopment mandate for one of Mumbai's landmark residential towers, marking another milestone in the company's growing portfolio. The appointment involves the complete redevelopment of New Chitra Co-operative Housing Society Ltd., a 14-storey structure in Kandivali West that was considered pioneering when constructed over three decades ago.

Project Overview and Financial Details

The redevelopment project encompasses substantial scope and financial commitment, as outlined in the company's regulatory filing.

Development Features and Modernization

The project involves complete demolition of the existing structure to create a modern, premium development that meets contemporary urban living standards. The new tower will incorporate multiple advanced features designed to enhance resident experience and property value.

Key development highlights include:

• Thoughtfully planned residences with modern layouts
• Curated commercial spaces integrated within the development
• State-of-the-art amenities for residents and commercial users
• Enhanced safety systems and fire-safety improvements
• Smart building technologies for efficient operations
• Energy-efficient systems aligned with sustainability goals
• Rainwater harvesting and other green features
• Dedicated parking facilities for all units

Benefits for Existing Society Members

The redevelopment will significantly transform the living experience for current society members, who will receive substantially upgraded accommodations. Existing members will benefit from larger, well-designed homes featuring improved specifications and modern infrastructure. The project emphasizes enhanced quality of living through upgraded common areas and contemporary building systems.

Strategic Location Advantages

Kandivali West represents one of Mumbai's rapidly evolving residential and commercial corridors, offering strong connectivity and social infrastructure. The strategic location enhances the project's appeal for both end users and investors, benefiting from the area's ongoing development and accessibility.

Management Commentary

Mr. Mahak Modi, Whole-Time Director and Chief Financial Officer, emphasized the project's significance in Mumbai's urban evolution. He stated that redeveloping one of the city's earliest high-rise structures represents both responsibility and opportunity, highlighting the company's commitment to delivering projects that combine design excellence, transparency, and long-term value creation.

Mr. Dinesh C. Modi, Founder, reinforced the importance of redevelopment in Mumbai's growth trajectory, noting the focus on unlocking value in aging assets while creating high-quality spaces that enhance lifestyles and strengthen communities. He emphasized that this mandate reinforces the trust societies place in the company to execute responsibly and deliver on time.

Company Background

Founded in 2010, Modis Navnirman Limited specializes in redevelopment-focused real estate development across Mumbai. The company transforms aging residential and mixed-use properties into modern, high-quality developments through thoughtful planning, engineering excellence, and disciplined execution. This latest mandate further strengthens the company's redevelopment portfolio, where it continues partnering with housing societies to transform aging properties into premium, future-ready assets.