Valor Estate Limited (formerly DB Realty) announced a significant milestone in its large-scale slum rehabilitation project at Worli, Mumbai. The project, known as the Jijamata Nagar Redevelopment, is being undertaken through its wholly owned subsidiary in partnership with Prestige Estates Projects via Worli Urban Development Project LLP.
Spanning approximately 70,000 square meters on MCGM-owned land along Dr. E. Moses Road, the project involves rehabilitating around 4,029 residential and commercial structures. According to the company, 3,661 families have already vacated and moved to transit accommodations or are receiving transit rent.
In a key development, demolition orders have been issued for the remaining structures. Following consent terms accepted by the Bombay High Court, all remaining occupants are required to vacate by June 25, 2025. Once cleared, the land will pave the way for the construction of “The Prestige Place,” a mixed-use development with planned sale FSI exceeding 4 million sq. ft.
The project is being designed by Skidmore, Owings & Merrill LLP (SOM), renowned for their work on Burj Khalifa, among others. The development aims to set new benchmarks in urban renewal and sustainability in South Mumbai.
Valor holds a 50% economic interest in the project and describes this as one of the largest true mixed-use developments and urban renewal initiatives in South Mumbai.