Wadhwas to redevelop Chandan Cinema into mixed-use complex
Realty developer Wadhwa Group has inked a joint development agreement (JDA) to redevelop one of Mumbai’s oldest single-screen movie theatres, Chandan Cinema, located in suburban upmarket Juhu, said three persons with direct knowledge of the development.
The Wadhwa Group and the owner of Chandan Cinema, Sameer Joshi, have agreed to develop the premises of the 45-year-old theatre into a retail and commercial complex. The high-rise, with a total carpet area of 1.25 lakh sq ft., will have over one lakh sq ft. of office space and the rest will be for high-end retail and a preview theatre. The redeveloped project will also have miniplexes with atwostorey retail outlet above.
“The pact between the developer and the owners of Chandan Cinema have already been signed and the project is currently in planning stage,” said one if the persons mentioned above.
NavinMakhija, managing director of the Wadhwa Group, confirmed the deal without sharing further details. The landlord Sameer Joshi’s spokesperson declined to comment on the story. The cost of the redevelopment project is unknown.