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