India, July 8 -- The contract for the redevelopment of Motilal Nagar-Maharashtra Housing and Area Development Authority's (Mhada) largest housing layout-was formally signed on Monday, four months after it was awarded to Adani Properties, a subsidiary of the Ahmedabad-based Adani Group.

The Rs.36,000-crore project aims to transform the 143-acre Motilal Nagar I, II, and III layout in Goregaon West into a modern residential hub, built around the concept of a "15-minute city"-a model that promises access to transport, healthcare, education, shopping, and entertainment within a 15-minute radius.

A source familiar with the development confirmed the signing of the construction and development agency (CDA) agreement on Monday.

This will be Mha...