Comments
The consortium of Tata Projects, Capacit'e Infraprojects and CITIC Group has been awarded a Rs 11,744-crore project by the Maharashtra Government and the Maharashtra Housing & Area Development Authority.
The order is for redevelopment of existing BDD (Bombay Development Department) residential and commercial societies (chawls), one of the oldest British era developments in Mumbai.
Located in the premium hotspot of Worli, Mumbai, the project will involve redevelopment of 26 million square feet of area. It is set to employ over 10,000 people and the construction will be carried out in phases over a period of eight years.
More than 10,000 families associated with this redevelopment will benefit by moving into a new home. They will have access to improved quality of life and the region will witness large-scale change in the societal upliftment of the neighbourhood.
Vinayak Deshpande, Managing Director, Tatat Projects Ltd, said, “This is one of the largest single-value infrastructure projects in the country. Execution of this skyline changing, socially beneficial project, shall help Mumbai become a world-class city. This win is also a testimony to Tata Projects focus on developing high quality social infrastructure, while maintaining high standards of safety.”
The Bombay Development Department was set up in 1920 by the then Governor, who designed a massive housing and development scheme on 22 hectares in Worli. The construction of 121 chawl buildings, each with 80 rooms, was completed between 1921 and 1925 to solve the massive housing shortage during that time. Currently around 9,700 families reside in the project precincts.
Since the housing colonies are now more than 90 years old and have completed their life cycle, the Government of Maharashtra has decided to go ahead with its redevelopment.
The project will developed in five phases over eight years. The project comprises around 98 rehabilitation and sale buildings having 22-66 floors and involves construction across 26 million square feet.
It project also requires construction of around 720 units in transit camp. Around 10,000 employment opportunities will be generated through this project.
Comments
COMMENT NOW
Comments
Comments have to be in English, and in full sentences. They cannot be abusive or personal. Please abide by our community guidelines for posting your comments.
We have migrated to a new commenting platform. If you are already a registered user of TheHindu Businessline and logged in, you may continue to engage with our articles. If you do not have an account please register and login to post comments. Users can access their older comments by logging into their accounts on Vuukle.