Archive · 20 Jul 2026
Ten X Realty Joins Parel Redevelopment Project
Ten X Realty has teamed up with Shanti Om Residency to work on a big project in Mumbai.
They are going to rebuild an area called Parel-Kalachowki.
This project will help people who live in slums by giving them new homes.
The project is very big and will happen in two parts.
In the first part, they will help 1,665 families, and in the second part, they will help 604 more families.
Ten X Realty will build some parts of the project, and Shanti Om Residency will build other parts.
They will also share the costs and make sure everything is done properly.
Ten X Realty and Shanti Om Residency have partnered for a slum rehabilitation project in Parel-Kalachowki, Mumbai.
The project covers 43,224.09 sq. m. with a permissible FSI of 177,193.35 sq. m.
The agreement involves a consideration value of ₹529.98 crore and a market value of ₹769.88 crore.
The project will be executed in two phases, rehabilitating a total of 2,790 eligible tenants.
Shanti Om Residency will retain 45% of the development rights, while Ten X Realty will hold 55%.
- Who
- Ten X Realty South Limited and Shanti Om Residency Private Limited
- What
- Joint development agreement for a slum rehabilitation project in Parel-Kalachowki, Mumbai
- When
- July 2026
- Where
- Parel-Kalachowki, Mumbai
- Why
- To redevelop the area and rehabilitate slum dwellers
Shanti Om Residency Pvt Ltd
Ten X Realty South Limited
Development Rights
Shanti Om Residency Pvt Ltd
Retains 45% share in development rights
Ten X Realty South Limited
Holds 55% share in development rights
Responsibilities
Shanti Om Residency Pvt Ltd
Constructs rehabilitation buildings and obtains occupation certificates for rehabilitation component
Ten X Realty South Limited
Develops free-sale buildings at its own cost and obtains necessary occupation certificates
- Consideration Value
- ₹529.98 crore
- Market Value
- ₹769.88 crore
- Stamp Duty
- ₹38.49 crore
- Land Area
- 43,224.09 sq. m.
- Permissible FSI
- 177,193.35 sq. m.
- Total Eligible Tenants
- 2,790
- Phase 1 Rehabilitation Tenants
- 1,665
- Phase 2 Rehabilitation Tenants
- 604