Joint Venture4 Jul 2025, 07:55 pm
Keystone Realtors Receives LOA for GTB Nagar Redevelopment Project in Collaboration with MHADA
AI Summary
Keystone Realtors Limited has received the Letter of Acceptance (LOA) for the redevelopment of GTB Nagar in Sion, Mumbai, in collaboration with MHADA. This is one of Mumbai’s most impactful urban transformation projects. The transaction is a redevelopment of GTB Nagar with no transfer of title taking place and the Company being entitled for development rights. The Company will give additional carpet area in lieu of existing carpet area to the existing society members and will be able to load additional Floor Space Index (FSI) on the societies' land for recovery of such costs.
Key Highlights
- Keystone Realtors Limited has received the Letter of Acceptance (LOA) for the redevelopment of GTB Nagar in Sion, Mumbai.
- The redevelopment project is being undertaken in collaboration with MHADA.
- The transaction is a redevelopment of GTB Nagar with no transfer of title taking place.
- The Company will give additional carpet area in lieu of existing carpet area to the existing society members.
- The Company will be able to load additional Floor Space Index (FSI) on the societies' land for recovery of such costs.