Speaking at the key handover ceremony of the Jai Santoshi Maa Housing Society in Kandivali, where 149 families received new homes under the SRA (Slum Rehabilitation Authority) scheme, Goyal emphasized that real development is about giving every citizen a safe and dignified home, not just chasing economic growth figures.

“Builders who abandon projects, fail to pay rents to displaced slum dwellers, or deliver poor-quality homes will not be spared. They will be blacklisted, and in serious violations, they may even face jail time,” Goyal said. “At the same time, I demand action against government officers who protect or collude with such builders. The nexus of corruption must be broken if we want true progress.”

The Minister stressed that transparency must become the foundation of SRA redevelopment. He insisted that slum residents must have the right to choose their developers, without political or administrative interference. This move, he said, would ensure that redevelopment projects genuinely serve the interests of the people rather than a select few.

Highlighting the government’s larger housing mission, Goyal reaffirmed the national goal under Prime Minister Narendra Modi’s leadership:
“In the next five years, three crore families will be provided free pucca homes. Our vision for a developed, self-reliant India leaves no citizen behind.”

Goyal praised the timely completion of the Jai Santoshi Maa Housing project but made it clear that examples of good work must become the norm, not the exception. He pointed out that abandoned or delayed projects not only cause financial loss to homebuyers but rob them of years of stability and dignity.

The event was attended by MLA Yogesh Sagar, developer Rashmin Rugani, chief promoter Amit Yadav, and senior SRA official Swapna Deshpande.

In a separate but strongly worded statement, Goyal also addressed the recent terrorist attack in Pahalgam. He said that those responsible would face such severe justice that “no enemy will dare look at Bharat with evil intent again.” He criticized individuals allegedly offering shelter to anti-national elements and stated that India’s 1.4 billion citizens stand united in the fight against terrorism.

Also Read: Reduce prices to survive or suffer: Piyush Goyal to Builders

The post Builders Who Delay Projects or Deliver Poor Work Will Face Blacklisting and Imprisonment: Piyush Goyal appeared first on Square Feat India.

The redevelopment site is located in Shastri Nagar, an area originally developed by Ajmera Group. The company aims to leverage its existing presence in the region, reinforcing brand recognition while expanding its footprint in Mumbai’s growing micro-markets. The project will add an estimated 71,300 square feet of carpet area to the city’s housing stock.

Ajmera Realty has been expanding its portfolio through asset-light acquisitions and redevelopment projects, aligning with its broader strategy of inorganic growth. With this latest addition, the company has added four new projects with a total estimated value of ₹2,770 crores, moving closer to its fiscal growth targets.

Shastri Nagar is well-connected to key commercial and residential hubs in Mumbai, benefiting from metro connectivity, educational institutions, healthcare facilities, and retail centers. The company expects this location to attract homebuyers looking for modern urban living with accessibility to business districts.

Ajmera Realty Director, Dhaval Ajmera, said the redevelopment aligns with the company’s focus on revitalizing high-potential micro-markets through joint ventures (JV), joint development agreements (JDA), and redevelopment models. The company aims to enhance existing residential assets by upgrading infrastructure and creating modern living spaces.

SFI Analysis

Ajmera Realty’s focus on redevelopment projects highlights a growing trend in Mumbai’s real estate sector, where land scarcity and rising demand are driving large-scale redevelopment initiatives. By taking on projects in established residential areas like Andheri West, developers can cater to homebuyers seeking upgraded living spaces without moving away from prime locations.

The company’s asset-light strategy through JV and JDA models allows it to expand without significant capital investment, reducing financial risk. With multiple projects added to its pipeline, Ajmera Realty is positioning itself as a key player in Mumbai’s redevelopment landscape, competing with other firms capitalizing on the city’s aging housing stock.

Also Read: CREDAI-MCHI Launches Exhibition to Streamline Redevelopment in Mumbai

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