Summary:
The slum consists of around 2,000 hutments; the habitants of these quarters, after redevelopment, will get free homes under the slum redevelopment policy of the state. The project has been estimated to cost over Rs 5,000 crore and will be one of the biggest slum redevelopment projects in the city. Housing experts attributed such big joint ventures to the consolidation phase that the real estate sector is experiencing. The Omkar Realtors is expected to redevelop the slum, while L&T will be taking care of saleable component. Sources in the market claimed that the Omkar Realtors — which has earned its name in slum redevelopment — is in the last bit of finalising a joint venture with L&T Realty..