DLF Exits ₹10,000 Cr Tulsiwadi Project After Settlement with Hubtown
Saturday, August 2, 2025
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Legal clarity. Project ready. South Mumbai’s largest redevelopment finds its momentum.

DLF Exits ₹10,000 Cr Tulsiwadi Project After Settlement with Hubtown

DLF has exited the ₹10,000 crore Tulsiwadi redevelopment project in South Mumbai following a landmark settlement with Hubtown, ending years of legal disputes. Under the consent terms, DLF will receive ₹800 crore over two years from Twenty-Five Downtown Realty, a Hubtown affiliate. An initial ₹100 crore has already been paid, while the remaining ₹700 crore is secured by a mortgage on 1.5 lakh sq ft of project space. The long-stalled redevelopment, near the Willingdon Club in Tardeo, is now set to move forward. The SPV—initially a joint venture between DLF, Chinsha Property (Shapoorji Pallonji), and Hubtown—had faced financial turmoil after a ₹900 crore loan from PNB Housing Finance went bad. With litigation now resolved, Hubtown has backing from Oaktree Capital and can resume construction of this massive urban renewal project. Industry experts see this as a sign of maturing dispute resolution practices in Indian real estate.

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