India, June 11 -- A consortium led by Reliance Industries Limited (RIL)'s real estate arm, Reliance 4IR Realty Development Limited, has bagged the 101-acre Juhu Lane-Gilbert Hill slum cluster redevelopment project, marking the conglomerate's foray into Mumbai's slum rehabilitation market.

Covering a 101.36-acre land parcel around Gilbert Hill, a 66-million-year-old monolith in Andheri West, this is among the largest and first-ever projects to move forward under the Maharashtra government's newly introduced slum cluster redevelopment policy. The project, floated by the Slum Rehabilitation Authority (SRA), is expected to result in the construction of more than 28,000 rehabilitation homes for eligible slum dwellers.

The land parcel stretch...