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2mo ago

Keystone Realtors Receives MHADA Letter of Intent to Launch GTB Nagar Redevelopment

Under a master plan overseen by a residents’ committee, the project moves into planning with MHADA guaranteeing free flats, temporary rent support plus maintenance

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Mumbai redevelopment news: The Maharashtra Housing and Area Development Authority (MHADA) has appointed the Rustomjee Group to redevelop 25 buildings in Mumbai’s Guru Teg Bahadur Nagar (GTB Nagar), Sion Koliwada. (Picture for representational purposes only)
Mumbai-based Keystone Realtors Limited, popularly known as the Rustomjee Group, announced on July 2 that it has been selected to redevelop eight housing societies as part of a large-scale cluster redevelopment project in Mumbai’s Andheri West.
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Overview

  • Keystone Realtors (Rustomjee Group) received MHADA’s Letter of Intent on July 1 to begin detailed planning and construction under the DCPR 33(9) framework for the 11.20-acre GTB Nagar site
  • A five-to-seven-member residents’ committee will monitor project progress and ensure adherence to the master plan
  • MHADA has finalised terms for 1,200 families to receive a free 635 sq ft flat, ₹20,000 in monthly rent until handover and five years of post-handover maintenance
  • The redevelopment will add 25,700 sq m of built-up space to MHADA’s housing stock and is set to accommodate around 200 nearby slum dwellers
  • This initiative follows a 2024 Supreme Court ruling and State Cabinet approvals that empowered MHADA as the Special Planning Authority under DCPR 33(9), setting a precedent for future private-land redevelopments