The Letter of Intent (LOI) was handed over to Keystone Realtors by MHADA Vice President and CEO, Sanjeev Jaiswal, IAS, during a ceremony held at MHADA Headquarters in Bandra (East)
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In a landmark decision aimed at rehabilitating displaced Sindhi refugee families, the Maharashtra Housing and Area Development Authority (MHADA) has appointed Keystone Realtors (Rustomjee Group) as the construction and development agency for the redevelopment of 25 buildings at Guru Teg Bahadur Nagar (GTB Nagar) in Sion Koliwada.
The Letter of Intent (LOI) was handed over to Keystone Realtors by MHADA Vice President and CEO, Sanjeev Jaiswal, IAS, during a ceremony held at MHADA Headquarters in Bandra (East). The event was attended by residents of the long-neglected colony, along with key officials including MLA Captain R. Tamil Selvan, MHADA Mumbai Board Chief Officer Milind Borikar, Keystone CMD Boman Irani, Deputy Chief Engineer Bhushan Desai, and other senior MHADA officials.
Built in 1958 for post-independence migrants, the 25 buildings at GTB Nagar housed around 1,200 families. Declared unsafe by the BMC in 2020 and subsequently demolished, the residents have since been left without permanent housing. In response to persistent appeals from tenant societies, the state government approved the redevelopment plan through MHADA, despite the land being privately owned.
The redevelopment, carried out under DCPR 33(9) norms, was greenlit by the State Cabinet on February 14, 2024, with MHADA being designated as the Special Planning Authority via a Government Resolution issued on February 23, 2024.
Under the approved plan, each eligible family will receive a free 635 sq. ft. flat. The project will also yield 25,700 square meters of built-up space for MHADA as housing stock. In addition to rent of Rs 20,000 per month for displaced families until the project is completed, MHADA will bear five years of post-redevelopment maintenance costs.
Calling it a "historic and model redevelopment project," Jaiswal said this is the first time MHADA is executing redevelopment on private land through an appointed developer. He emphasized that a master plan would be prepared and closely monitored, with a 5 to 7-member residents' committee to oversee project progress. "The rehabilitation of 1,200 families is our top priority," he assured.
MHADA Mumbai Board Chief Officer Milind Borikar noted that the initiative is being implemented under the direct guidance of Chief Minister Devendra Fadnavis and Deputy Chief Minister and Housing Minister Eknath Shinde. Legal challenges surrounding the project were resolved after a Supreme Court ruling in MHADA’s favor, paving the way for future projects of a similar nature.
MLA R. Tamil Selvan credited the BDD Chawl redevelopment model for inspiring this project. “Following the Chief Minister’s directive, MHADA acted swiftly to bring the long-pending demands of GTB Nagar residents to life,” he said.
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