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The Maharashtra Housing and Area Development Authority has signed key agreements to advance the redevelopment of the Guru Tegh Bahadur (GTB) Nagar housing cluster in Sion Koliwada, Mumbai, in partnership with Keystone Realtors and local housing societies. The project covers roughly 11.2-11.5 acres and will rehabilitate about 1,200 residents currently living in ageing buildings across the locality. Executed through Keystone Realtors subsidiary Keymidtown Developers, the redevelopment is expected to unlock around 20.7 lakh sq ft of saleable area with an estimated gross development value of about INR 4,521 crore. The agreements mark a key step in implementing the project after earlier approvals, with MHADA acting as the special planning authority. The initiative represents the authority's first redevelopment on private land using a construction-and-development agency model.The Maharashtra Housing and Area Development Authority has formalised agreements for the redevelopment of the Guru Tegh Bahadur (GTB) Nagar housing cluster in Sion Koliwada, Mumbai, moving forward with a large urban renewal project intended to replace ageing residential structures with new housing. The agreements were signed earlier this month between MHADA, housing societies in the area and Keystone Realtors subsidiary, Keymidtown Developers, which will execute the redevelopment.
The project covers approximately 11.2 to 11.54 acres and is expected to rehabilitate around 1,200 eligible residents living in the existing buildings within the GTB Nagar colony. The redevelopment will also generate an estimated 20.7 lakh square feet of saleable development, with the overall project estimated to have a gross development value of about INR 4,521 crore. Advertisement
The cluster consists of 25 housing societies comprising residential structures that were developed several decades ago and have since deteriorated structurally. Under the redevelopment plan, the existing buildings will be replaced with new residential towers and upgraded infrastructure designed to meet contemporary safety and urban planning standards.
Officials indicated that once the commencement certificate is issued by the relevant authorities, residents eligible for rehabilitation will receive monthly rent compensation of INR 20,000 during the construction period until the new buildings are completed and possession is granted.
The redevelopment is being implemented under Development Control Regulation (DCR) 33(9), which governs redevelopment of MHADA-related housing clusters. The Maharashtra state cabinet had approved the project framework in February 2024, after which MHADA was designated as the special planning authority for the redevelopment through a government resolution issued later that month.
The GTB Nagar redevelopment represents MHADA's first project on private land executed through a construction-and-development agency model, a structure that allows the housing authority to partner with a developer while retaining planning oversight of the project.
Located in central Mumbai with connectivity to Sion, Wadala and the Eastern Express Highway, the redevelopment is expected to replace ageing housing stock while providing new homes for the existing residents of the colony. The agreements mark a key implementation stage for the project following earlier approvals and developer selection, enabling preparatory steps for construction to begin once regulatory permissions are secured.
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