Shardul Amarchand Mangaldas & Co. advises Shoden Developers and Suijin Projects (both part of the House of Hiranandani Group) in Acquiring Development Rights for 5 Housing Societies at Chembur, Mumbai

September 17, 2024

Shardul Amarchand Mangaldas & Co. advised Shoden Developers Private Limited and Suijin Projects Private Limited, part of the House of Hiranandani Group, on acquiring development rights from Maitri Park Co-operative Housing Society, Shrinagar Co-operative Housing Society, Nava Shrinagar Co-operative Housing Society, Rameshwar Co-operative Housing Society and Ramprasad Co-operative Housing Society to its respective properties admeasuring in the aggregate approximately 15 Acres, all situated at Chembur, Mumbai. The deal was closed in June 2024.

The deal entails redevelopment of five Societies comprising of approximately 450 society members spread across 15 Acres in Chembur, Mumbai. The developers intend to amalgamate four societies into one apex society for the purpose of a cluster redevelopment.

SAM & Co. team was led by Bhoumick Vaidya, Partner; Harshini Kotecha, Senior Associate; and Tasneem Zaveri, Associate.