MUMBAI, India – July 1, 2025 – In a significant move set to reshape a historical residential pocket, the Maharashtra Housing and Area Development Authority (MHADA) has officially brought Keystone Realtors, a prominent entity within the Rustomjee Group, on board. Their mission: to spearhead the comprehensive redevelopment of 25 buildings nestled within the Guri Teg Bahadur Nagar area of central Mumbai’s Sion Koliwada.
This extensive colony, sprawling across more than 11.20 acres, is poised for a major transformation. Upon completion, the project is anticipated to deliver an impressive 25,700 square meters of built-up area to MHADA, designated as housing stock. This will operate under a Floor Space Index (FSI) of 4.5, which incorporates fungible area.
The core purpose of this undertaking is the rehabilitation of over 1,200 families with roots as Sindhi refugees. These specific buildings, originally erected in 1958 for post-independence migrants, were declared structurally unsound in 2020. They were subsequently demolished by the Municipal Corporation of Greater Mumbai (MCGM), leading to the displacement of the affected residents, who were then left to secure temporary accommodation on their own.
Following persistent appeals from the tenant societies, the State Government ultimately gave its nod for MHADA to oversee the site’s redevelopment, a notable decision given the land’s private ownership. This initiative marks a precedent as MHADA’s inaugural private land redevelopment managed through an appointed agency, signaling an evolving strategy for the authority. MHADA has committed to providing all necessary coordination to ensure the project stays on schedule.
Under the detailed redevelopment blueprint, every eligible family will be granted a new, complimentary 635 sq ft apartment. Furthermore, MHADA will provide these families with a monthly rental stipend of ₹20,000 until their new residences are ready for occupancy. The authority has also pledged to cover five years of maintenance charges for the apartments once residents take possession.
The project secured critical cabinet endorsement in February 2024, subsequently formalized by a Government Resolution. Its execution will proceed under Regulation 33(9) of the Development Control and Promotion Regulations (DCPR), with MHADA assuming the pivotal role of Special Planning Authority for this crucial endeavor.
