Reliance 4IR Realty, Mahadev Realtors to redevelop Gilbert Hill slum
Reliance 4IR Realty Development Limited, along with Mahadev Realtors Juhu Private Limited, is set to transform the Juhu Lane-Gilbert Hill slum cluster in Mumbai.
Covering more than 100 acres in Andheri West, this massive redevelopment will impact thousands of families living near the ancient Gilbert Hill landmark.
It's a big step under Maharashtra's new policy for upgrading slum clusters.
Consortium outbid major competitors, ₹100cr guarantee
The consortium outbid major competitors by offering a premium over the ready reckoner rate, and backing it up with a ₹100 crore performance guarantee.
"The Juhu Lane slum cluster's successful tendering process marks a watershed moment in Mumbai's redevelopment journey," said Mahendra Kalyankar, chief executive officer of the SRA, aiming to build more than 28,000 new homes for residents, setting a fresh benchmark for future city projects.