BMC Grants Approval to Valor Estate for Urban Housing Project

Valor Estate Limited (formerly D B Realty Ltd) has taken the next step towards its affordable housing programme with a grant of corrigendum to the LOA from Brihanmumbai Municipal Corporation (BMC) for its Urban Resettlement and Housing Project in Zone IV.

The Urban Resettlement and Housing project consists of an estimated 13,374 tenements under the Project Affected Persons (PAP) scheme intended to enable mega-scale urban resettlement. The proposed Urban Resettlement and Housing project will have an estimated area of 33.46 sq. m. per unit, for an assessed value of Rs. 50,98,686 each (excluding GST), based on revised ASR rates certified by Town Planning Department.

• Valor Estate Secures BMC Approval for Rs. 7,000 Crore Urban Resettlement Project in Mumbai.
• Valor Estate to Build 13,374 Tenements Under Urban Resettlement & Housing Project with BMC Nod.
• Valor Estate's Rs. 7,000 Crore Affordable Housing Project in Mumbai Set for Growth with BMC Approval.

The Urban Resettlement and Housing project has a Gross Development Value (GDV) of Rs. 7,000 crore, disclosed by the company in its filing dated June 5, 2025. Valor Estate Limited is in receipt of the necessary approvals required to advance its Urban Resettlement and Housing Project, and the company has stated that it is entitled to 75 percent economic interest in the proposed Urban Resettlement and Housing Project, approximately 13,374 tenements under the PAP Scheme.

The company indicated in its disclosure under Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015; that their project is in the affordable housing sector and aligns with the company's present urban development and investment activity in Mumbai. Consequently, the company classified the Urban Resettlement and Housing Project as financially and profit accretive.

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Valor Estate Limited, a real estate development company located in Mumbai, India, specializes in city-scale, mixed-use, and government partnered projects. Currently, Valor is focused on urban transformation initiatives emphasizing innovation and sustainability.

Commenting on the development, Shahid Balwa, Vice-Chairman & Managing Director, stated that the project marks a pivotal milestone in the company’s growth strategy and aligns with its mission to drive inclusive urban renewal in one of India’s most populous cities.