India, April 9 -- The Maharashtra Housing and Area Development Authority (Mhada) has approved a consortium comprising Bhagirathi Housing Private Limited and Maathi Developers Private Limited to redevelop Kamathipura, a neighbourhood in south Mumbai that once housed workers and gradually became synonymous with the red light district that operated from a network of lanes and bylanes.

According to the letter of approval (LoA) issued by the Mhada on Wednesday, the consortium had emerged as the highest bidder following the tender process; apart from rehabilitating nearly 8,000 families residing in existing buildings in 500-square feet (sqft) apartments, it has agreed to hand over to the housing authority, free of cost, ready to move in apartm...