Bengaluru, Sept. 16 -- Worli, India's hottest property micro-market today, where apartments sell at over Rs.1 lakh a square foot, will soon see a mega slum redevelopment project. The 17-acre land parcel will have a Waldorf Astoria hotel and branded residences, a second hotel under the Hilton brand, two high-end residential towers, office and retail space. It will also rehabilitate 4,000 families that occupied the land.

At the helm of the ambitious, 4.5 million sq. ft mixed-use development project, pegged to be south Mumbai's largest, are Prestige Group and Valor Estate Ltd. In its earlier avatar, the latter was known as DB Realty, a name that became infamous after the promoters got embroiled in the 2G spectrum scam case a decade and a ha...