India, June 5 -- Three companies have expressed interest in redeveloping more than 100 acres of prime land around Gilbert Hill in Andheri, officials familiar with the matter told Hindustan Times.

The Slum Rehabilitation Authority (SRA) on Thursday opened technical bids submitted by the three companies - JSW Realty and Infrastructure Private Limited, Reliance 4IR Realty Development Limited and Shapoorji Pallonji Real Estate Private Limited.

"The three submissions will now undergo scrutiny. Financial tenders will be opened at a later date," an SRA official said.

A developer for the project will be appointed based on the percentage of the ready reckoner rate for land that bidders are willing to pay as premium to the SRA. The minimum thres...