Sakshi Chandan Naphade

UR3596

Within this post-liberalisation landscape, in the early 90s, a tripartite agreement was signed by Hiranandani developers, State Government of Maharashtra and the Mumbai Metropolitan Regional Development Authority (MMRDA). The developers were to construct apartments measuring 40 sq.m and 80 sq.m as a part of low-income housing. Presently, Hiranandani Gardens, one of India’s earliest privately-developed townships, is one of the priciest real-estate in Mumbai, offering high-end housing, commercial property, and office spaces.This project investigates the story of Hiranandani Gardens, drawing a timeline of its inception, development. The study will also include the study of policies that affected and favored the development of the township, to investigate how that played a role in making Powai a hotbed of real-estate development. Thus, through this study, the project will aim to generate a larger understanding of whether or not this model of privatization-driven urban development works in terms of social inclusivity and economic growth in India’s cities.