Real Estate Mumbai

Key take-aways from the Hubtown × DLF settlement

1. ?800 crore exit price for DLF

   • Twenty-Five Downtown (a Hubtown affiliate) will pay DLF ?800 crore in three tranches over two years.

   • ?100 crore has already been released; the balance ?700 crore is secured by a mortgage on 1.5 lakh sq ft of saleable area within the project.

2. All litigation withdrawn
   DLF has dropped its arbitration claims, NCLT proceedings, and RERA complaints against Hubtown, PNB Housing Finance, Omkara ARC, and other parties. This removes the legal overhang that had stalled progress since the 2021 loan default.

3. Shareholding now consolidated with Hubtown & Omkara ARC
   After PNB Housing invoked pledges and Omkara ARC bought the distressed loan, DLF and Chinsha’s equity was effectively wiped out. The new structure gives Hubtown clear control to push execution.

4. Project finance is already in place
   Three residential towers are MahaRERA-registered and construction funding has been tied up with Oaktree Capital. With the ownership dispute resolved, draw-downs and construction can proceed without lender reservations.

5. One of South Mumbai’s largest slum-renewal plays

   • Size: 17 acres in Tardeo, directly abutting Willingdon Golf Course.

   • Potential: ~4 million sq ft of saleable area across premium residential, retail, and possibly a hospitality component.

   • Market value: >?10,000 crore at current south-Mumbai pricing.

What it means for the market — and for brokers & investors