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Valor Estate Ltd Receives Order for 13,374 Affordable Housing Tenements from MCGM

Valor Estate Ltd has received a Letter of Acceptance from the Municipal Corporation of Greater Mumbai (MCGM) for the construction, completion, and handing over of about 13,374 affordable housing tenements under the Project-Affected Persons (PAP) Scheme on the Company’s land situated at Malad East, Mumbai. The order, received through MCGM's competitive bidding process, is to be completed within 60 months from the issuance of the Commencement Certificate (CC). The development of the Urban Resettlement and Housing Project in Zone IV will provide compensation to the Company in the form of Transferable Development Rights (TDRs) and credit notes.

• Valor Estate Ltd receives order from MCGM for 13,374 affordable housing tenements.
• The order is part of the PAP Scheme on the Company’s land situated at Malad East, Mumbai.
• The project is to be completed within 60 months from the issuance of the Commencement Certificate (CC).
• The development of the Urban Resettlement and Housing Project in Zone IV will provide compensation to the Company in the form of Transferable Development Rights (TDRs) and credit notes.
• The order was received through MCGM's competitive bidding process.