In a city like Mumbai, new entrepreneurs often struggle to find space in prime locations. Due to the severe shortage of vacant plots,land in Mumbai has become one of the most valuable and scarce assets. In this situation, construction companies have successfully acquired prime properties across Mumbai through hearings conducted by the National Company Law Tribunal (NCLT).
Prime plots of land in Mumbai are in the hands of developers.
According to information available on the tribunal’s website, out of 8,659 insolvency cases across the country as of December 31, 2025, as many as 1,905 companies are related to the construction sector. Proposals have been submitted to acquire the assets of 1,472 of these companies, out of which resolution plans have been approved in 1,376 cases, while the remaining proposals are still under the hearing process. This mechanism has opened new opportunities for accessing land in Mumbai that was previously locked in stalled or failed projects.
Land in Mumbai acquired by top developers through national company law tribunal
Under this process, companies are declared insolvent by the national company law tribunal NCLT, a resolution professional is appointed, and the liabilities of financial institutions and buyers are assessed. Subsequently, advertisements are issued to invite bids for acquiring these distressed assets. From the proposals received, suitable bids are selected, and large developers or corporate groups take over such properties. A significant portion of these assets includes strategically located with high land price in Mumbai ,which is now being unlocked through legal resolution.
Through this process, stalled construction projects in the city are also being taken over and revived. Across the country, nearly 30 percent of halted housing projects are expected to be transferred to new developers using this route. This has made land in Mumbai that was unproductive for years available for Redevelopment. This process will free up land plots in the city, especially in upscale areas like Juhu and Santacruz.
In cities like Mumbai, developers and large business groups are constantly searching for quality land parcels. However, due to the acute shortage of available space, many developers fail to secure prime locations. This resolution-driven process is expected to free up long-pending parcels of land in Mumbai,while also providing developers with opportunities to introduce innovative projects and infrastructure. This process is playing a crucial role in freeing up high value land in Mumbai,ensuring better utilization of scarce urban space and accelerating the city’s real estate and infrastructure growth.
A prominent example of this process is the former Centaur Hotel, now Tulip Star Hotel, along with the adjoining six-acre prime plot near Juhu Beach. This highly valuable land in Mumbai was acquired by Lodha Group’s Macrotech Developers through the insolvency resolution process, and redevelopment work has already begun. Similarly, the Adani Group acquired commercial properties in Bandra Kurla Complex and land parcels in Kalyan Shahad from the bankrupt Housing Development and Infrastructure Limited (HDIL).
Naman Developers acquired the Ramrajya and Swarajya projects in Kalyan from the insolvent Neptune Developers for ₹391 crore, bringing renewed hope to nearly 3,500 homebuyers. Such acquisitions highlight how stalled land in Mumbai is being brought back into active use through structured legal processes.
As a result of these developments, prime locations across Mumbai are gradually being unlocked, which is expected to significantly boost traffic movement, commercial activity, and overall economic transactions in these areas. In the case of the Horizon Hotel at Santacruz, a consortium led by Oberoi Realty, Naman Developers, and GM Financial submitted a ₹919 crore resolution plan, which was approved by the tribunal. Similarly, prime plots adjoining Juhu Chowpatty were acquired by Ubhari Land and other companies, with creditors recovering nearly 74 percent of their dues.
