In an exclusive conversation with Meenakshi Singh, DR. ADV. HARSHUL SAVLA, decodes the complex realities of rebuilding a living city — from balancing history and modernity to addressing the deeper questions of urban resilience, affordability, and sustainability. His insights offer not just a view into one developer’s philosophy, but a critical lens on how Mumbai itself must evolve in the decade ahead.
Q Suvidha Lifespaces has established itself as a strong player in Mumbai’s redevelopment segment. Could you start by taking us through the journey of the company and its evolution over the years?
Suvidha’s journey is, in many ways, a reflection of Mumbai’s transformation. We began over two decades ago, at a time when redevelopment was not yet seen as a strategic business vertical in real estate. Back then, most developers were still chasing greenfield projects. But we recognised early that Mumbai’s real future lay not in expansion, but in
urban regeneration — in rebuilding the very core of the city. The first few projects were small societies, but each taught us something fundamental: that redevelopment is not just about structures, it’s about people, trust, negotiations, and patience. Over time, as thesector formalised with RERA and other regulatory changes, Suvidha Lifespaces adapted itself into a fully professionalised, compliance-driven company. Today, with over 40 completed projects and several others underway, we are proud to have earned the confidence of the housing societies we work with. For us, redevelopment is a responsibility — not just to the residents we rehabilitate, but also to the future generations who will live in these reimagined spaces.
Q Redevelopment often presents unique challenges compared to fresh construction. What would you say are the major complexities you face?
Redevelopment is perhaps one of the most complex endeavours in real estate. Unlike greenfield projects, where you have the freedom to design from a clean slate, redevelopment starts with a legacy — people’s memories, emotional attachments, legal disputes, structural constraints. Firstly, consensus-building is an art in itself. A housing society is a microcosm of different backgrounds, aspirations, and sometimes even conflicting interests. Aligning everyone on a common vision requires patience, transparency, and immense clarity of communication.Secondly, navigating the regulatory maze is no less challenging. From municipal permissions to environmental clearances to title diligence, the process can be exhausting. Add to that the everevolving DCPR norms, fungible FSI clauses, and occasional political uncertainty — and you realise why many developers hesitate to touch redevelopment. Thirdly, financial structuring is tricky. Redevelopment involves vacating residents, providing rent for interim accommodation, managing construction finance, and absorbing unpredictable timelines — all while ensuring financial sustainability of the project. It requires a certain financial discipline and prudence that not all players are prepared for. But having said all this — the challenges are also what make redevelopment meaningful. Every project is an opportunity to rewrite a small piece of Mumbai’s history.
Q In recent years, we have seen increased competition in the redevelopment space. How does Suvidha differentiate itself?
At Suvidha, our differentiation lies in three words: Integrity, Innovation, and Intimacy.
Integrity, because we believe in a transparent, honest approach with society members. We don’t make tall promises we can’t keep. We prefer dialogue over litigation. And we believe every resident deserves dignity throughout the process. Innovation, because every building
has a different DNA. We don’t believe in cookie-cutter solutions. Whether it’s reimagining layouts to maximise light and ventilation, or introducing rooftop green spaces, or integrating modern amenities even in small plots — we constantly innovate to deliver more
than what’s expected. And intimacy, because we see ourselves as partners, not outsiders.
Our teams maintain daily contact with residents, updating them, addressing their anxieties, celebrating small milestones together. When you build that human connect, the project moves smoother — and becomes far more fulfilling.
Q Redevelopment often impacts urban design at a larger scale. How do you ensure that Suvidha’s project contribute positively to Mumbai’s urban fabric?
This is something I personally feel very strongly about. Mumbai cannot afford redevelopment that is shortsighted. We cannot merely demolish and reconstruct. We need to think about urban resilience, social equity, and environmental responsibility. In all our projects, we insist on creating better common spaces — be it landscaped gardens, walking
tracks, or community halls. Wherever possible, we try to create setbacks to open up breathing space. Even something as small as proper tree plantations or rainwater harvesting systems can make a significant longterm impact. We are also increasingly conscious about climate-resilient architecture. With heatwaves, flooding, and air pollution becoming everyday realities, the built environment must adapt. Passive cooling techniques, natural ventilation, reflective surfaces, STPs — these are not add-ons anymore; they are essentials.
Q You touched upon regulatory hurdles earlier. How has the postRERA era impacted redevelopment in Mumbai?
RERA, despite its teething issues, has been a watershed moment for Indian real estate. It brought structure, accountability, and most importantly —a sense of protection for homebuyers. For redevelopment projects specifically, RERA has created a more formal contractual framework between societies and developers. Project registration ensures that residents have a grievance redressal mechanism beyond court battles. It also mandates
that project finances are ring-fenced — meaning that developers cannot misuse funds collected. However, there are challenges too. RERA does not fully account for the unique complications of redevelopment — such as delays caused by society disputes or sudden policy changes. In some cases, this has placed an undue burden on developers. Going forward, I think we need a specialised RERA framework for redevelopment, which acknowledges its peculiarities while upholding resident protection. But overall, RERA has definitely elevated the professionalism of the sector.
Q Given the rising costs in Mumbai — both in terms of land and approval— how do you balance affordability for buyers and viability for your company?
Affordability is perhaps Mumbai’s greatest paradox. On one hand, we want to offer quality homes to middleclass families. On the other, spiralling land premiums, labour shortages, GST, and finance costs squeeze margins brutally. Our approach at Suvidha has been
to optimise intelligently rather than cut corners. We spend a lot of time finetuning apartment layouts — eliminating wastage, maximising utility. We deploy modular construction techniques wherever feasible. We work closely with supply chain partners to ensure quality materials at competitive prices. Also, redevelopment by nature reduces the land cost burden per apartment, because part of the inventory is rehabilitation. This
allows us to offer new flats at more accessible price points compared to pure greenfield luxury developments. Ultimately, we believe affordability doesn’t mean cheapness. It means smart design, efficient execution, and genuine value for money.
