Ten X Realty joins ₹530-crore Kalachowki slum rehab, one of 2026's larger SRA deals

Shanti Om Residency has brought Ten X Realty South in as joint developer on a slum rehabilitation scheme spread over roughly 10.7 acres on Parel Tank Road in Kalachowki, under a joint development agreement valued at ₹529.98 crore. The agreement was registered on July 15 and attracted stamp duty of ₹38.49 crore, according to registration documents cited by CRE Matrix and reported this week.

The scheme is among the larger SRA transactions registered in Mumbai this year. Filings put the overall plot area at about 43,224 sq m, with an approved scheme area of roughly 22,732 sq m and a proposed built-up area of about 23.9 lakh sq ft — split between a rehabilitation component of around 12 lakh sq ft for 2,790 eligible slum households across 32 proposed societies, and a free-sale component of nearly 11 lakh sq ft that the partners will share 55:45. The consideration includes a ₹359-crore developer's share and ₹165 crore towards rehabilitation costs.

The deal underlines how the SRA route has become the main door into central Mumbai, where large contiguous parcels rarely trade on the open market. It follows a run of big rehabilitation-led entries — Reliance's Juhu Galli project and Adani's Motilal Nagar win among them — as developers chase the Parel–Lalbaug belt's proximity to the Lower Parel office district.

For buyers, the number to watch will be where the free-sale component eventually prices. Registered deals in Finclara's ledger for the surrounding Parel belt — a growing sample, not the whole market — offer one reference point as that inventory comes through.