In a significant development for Mumbai’s real estate landscape, DLF and Hubtown have settled their long-standing legal dispute over the Rs 100-billion Tulsiwadi urban renewal project in South Mumbai. The agreement includes an Rs 8 billion payout from Hubtown to DLF.

The redevelopment project, located on a 17-acre land parcel next to the Willingdon Club in Tardeo, had been stalled for years due to legal and regulatory challenges. With the settlement now in place, the project is expected to proceed without further legal hurdles.

As part of the consent terms, DLF has formally exited the project and withdrawn all ongoing legal proceedings against Hubtown, Twenty-Five Downtown Realty (formerly Joyous Housing), PNB Housing Finance, and other associated parties. This marks the conclusion of prolonged arbitration, National Company Law Tribunal (NCLT) hearings, and RERA-related complaints.

The resolution clears the path for the high-value urban redevelopment plan to move forward, signalling progress in one of South Mumbai’s most prominent real estate projects.

News source: The Free Press Journal