October 11, 2025: In one of Mumbai’s most dramatic real estate turnarounds, the long-stalled Juhu Gully cluster—located between Juhu and Andheri—is set for a major revival under a Rs 155-crore resolution plan approved by the National Company Law Tribunal (NCLT) on June 27, 2025. Once burdened by litigation, debt, and halted construction, the cluster now stands to become one of the city’s most lucrative redevelopment projects.
The Tribunal’s order transferred control of Darshan Developers Group and 11 associated real estate companies to a new promoter through a court-approved insolvency resolution. “The Resolution Applicant has recently undergone internal restructuring and is a wholly owned subsidiary of Aspect Infrastructure and Construction Private Limited… which is further a subsidiary of Aspect Global Ventures Private Limited (Group Company).” (NCLT Order, p. 6–7).
The approved resolution plan involves a transaction valued at Rs 155.02 crore, consolidating multiple land parcels across Mumbai’s western suburbs. It also provides a 40,000 sq. ft. carpet area allocation to Piramal Capital & Housing Finance Ltd., along with Rs 55 crore in monetary consideration. “The Resolution Plan primarily proposes to allot an area of 40,000 sq. ft. of carpet area… on a portion of Juhu Gully area… together with proportionate car parking spaces… considered as ‘PCHFL Revenue’. Additionally, Shiv Infra proposes to pay Rs 55 crore (‘PCHFL Monetary Consideration’).”
The cluster’s redevelopment potential is immense. Once complete, Juhu Gully could yield 5–6 lakh sq. ft. of saleable space—translating to over ₹2,500 crore in potential revenue at current market rates. With the order extinguishing past claims, the new developer gains a clean slate to execute one of Mumbai’s most premium SRA projects.
This ruling marks a fresh chapter for Juhu Gully, transforming a distressed real estate zone into a high-value redevelopment opportunity.
Source: Realty Plus
