Reliance 4IR, Mahadev Realtors win Andheri West Juhu Galli redevelopment
Reliance 4IR Realty Development and Mahadev Realtors Juhu just scored the contract to redevelop the massive 101.36-acre Juhu Galli slum cluster in Andheri West, Mumbai.
The plan: Build over 28,000 new homes for residents as part of Maharashtra's Cluster Redevelopment Policy, making this one of the city's biggest slum upgrades yet.
Reliance consortium commits 700cr transit rent
The Slum Rehabilitation Authority picked Reliance's team after a bidding war with JSW and Shapoorji Pallonji.
The consortium will provide a cumulative transit rent commitment of about ₹700 crore for the next two years, plus a further one year's transit rent through post-dated cheques, and put down a ₹100 crore performance guarantee.
Besides new homes, expect open spaces, better infrastructure, and upgraded amenities, all set to give both locals and Mumbai a major boost.