India, June 13 -- Kamathipura, one of the oldest neighbourhoods in South Mumbai, is all set for a transformation, as MHADA has floated tenders for a construction and development agency for its redevelopment. Its century-old, cramped and dilapidated structures will now be converted into skyscrapers with all the facilities that a metropolis like Mumbai can offer. It will also be the city's biggest cluster redevelopment scheme spread over 34 acres.

Kamathipura's redevelopment is expected to give a big boost to the real estate market after the ongoing redevelopment of Bhendi Bazaar, also known as Saifee Burhani Upliftment Trust (SBUT) project, which covers 16.5 acres.

Divided into a grid of fifteen lanes, Kamathipura encompasses 943 cessed ...