Valor Estate, Prestige Tie Up For ₹4-Million-Sq Ft Slum Project In Worli

Valor Estate Ltd., formerly DB Realty, is redeveloping a 70,000 sq. metre slum cluster in Mumbai’s Worli area via its unit in partnership with Prestige Estates Pvt. Ltd., the company said Monday.

The Jijamata Nagar Redevelopment Project, which sits on land owned by the Municipal Corp. of Greater Mumbai, involves relocating over 4,000 residential and commercial structures. So far, 3,661 families have vacated and been provided with transit homes or rent.

Once evictions are complete, the partners will begin construction of ‘The Prestige Place’, a marquee mixed-use complex with a sale floor space index exceeding 4 million sq. ft.