Pereira Family Makes History with Mumbai's First Owner-Controlled Bungalow Redevelopment Into 14-Storey Tower

Historic Property Transformation Sets New Precedent

Reports indicate that an 87-year-old heritage bungalow in Bandra West real estate market is set to create history as Mumbai's first self-redevelopment project completely managed by property owners. The Pereira family announced their decision to transform Victoria Cottage, built in 1938, into a modern 14-storey residential tower without involving external developers.

The property, situated on a 5,167 square feet plot, will be expanded to accommodate a 21,000 square feet building. Sources revealed that the family will occupy the top four floors while the remaining units will be marketed to recover costs and generate profits from the redevelopment venture.

Comprehensive Design Features Modern Living Standards

Architectural plans disclosed that the new structure will feature two basement levels, dedicated parking towers, and 14 residential floors. Each floor is designed to accommodate two 2BHK apartments measuring between 875-909 square feet, with three balconies per unit and 11-foot high ceilings for enhanced spatial comfort.

The development will incorporate contemporary amenities including smart home automation systems, rainwater harvesting facilities, solar power generation, sewage treatment plants, and electric vehicle charging stations. This aligns with current trends in Mumbai's redevelopment drive opportunities that prioritize sustainable living solutions.

Financial Structure and Timeline Details

Industry sources confirmed that construction activities are scheduled to commence by 2026, with an estimated completion period of approximately two and a half years. The Pereira family plans to invest 10 percent of the total project cost upfront, while the remaining financing will be secured through institutional bank loans.

The family expects to gain approximately 400 percent more living space compared to their current accommodation. This project demonstrates how Maharashtra's housing society initiatives are enabling property owners to take control of their redevelopment projects.

Project Specifications Overview

Significance for Mumbai's Real Estate Sector

Real estate experts suggest that this initiative represents a significant milestone in Mumbai's self-redevelopment landscape. The model empowers homeowners to maintain complete control over design decisions, cost management, and project outcomes, differentiating it from traditional developer-led redevelopment projects.

The Victoria Cottage transformation is expected to inspire other property owners in Mumbai to consider similar self-redevelopment approaches. This trend could particularly benefit areas experiencing real estate construction in Mumbai's western suburbs where heritage properties require modernization.