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In the era of rapid and immense urbanization, cities are not being able to fulfill simultaneously increasing demand for housing. It is true that cities are becoming employment hubs which attract large number of immigrants from rural counterparts which in turn adds to the need for housing. To cater to these population, one option can be expansion of urban boundaries though many times, that leads to more distance from city center. Hence, a better option can be redevelopment of existing dilapidated structures and thus to promote optimal use of space. In terms of real estate, redevelopment is as necessary as new construction. While new construction is important to cater to growing demand of residential spaces, redevelopment of existing dilapidated housing stock, too has paramount significance in the sense that a greater number of units are generated and much efficient use of building space is generated. The present study also talks about such are development project of a private housing society in Khokra-Mehmadabad in Ahmedabad city. The main aim is to promote efficient usage of space by proposing the best possible product mix for real estate development in the site. Land-use potential analysis has been done for 10 sites before selecting the final site. While preparing project brief, relevant regulations and guidelines as well as existing residents' preferences have been taken in account. The project comes out as a viable one where up-coming metro corridor works as a positive potential for the site.