The Maharashtra State cabinet has given a green signal for the redevelopment of Motilal Nagar in Goregaon-West, touted as the redevelopment of Mumbai’s biggest layout. Granting the project a special project status. Approving the development and declaring it a special project, the Housing department of the state of Maharashtra in a Government Resolution said the development would be subject to the Bombay High Court orders. Owing to the huge layout of land available for redevelopment of Motilal Nagar, a mix of residential and commercial is permitted for this project but this cannot be considered as a set norm for future projects, pointed the Government Resolution.
MHADA, the nodal agency of the project, on October 29 floated tenders inviting Request for Quotation (RFQ) and Request for Proposal (RFP) for redevelopment of Motilal Nagar in Goregaon (West). Having a deadline of seven years to complete the project, the redevelopment is planned to take place in phases. During the redevelopment, the developer will be responsible for providing transit accommodation to the existing residents.
According to FPJ, MHADA has got bids from Adani, Larsen & Toubro and Naman Group. Bidders were expected to give Rs 50-crore bid surety in the form of bank guarantee/ demand draft, as per the tender condition. The final selection has not been done, as yet.
Built in the 1960, Motilal Nagar is spread in 50 hectares, and hosts houses meant for people mostly belonging to the Economically Weaker Sections (EWS).
A statement from the chief minister’s office said that currently there were 1,600 hutments and slums and close to 3,700 houses, totalling to 5,300 tenements that will benefit from this redevelopment scheme.
The MHADA will execute the redevelopment project under the redevelopment guidelines for 33(5) of the Development Control & Promotion Regulations (DCPR), 2034.
“The tender for the project will be finalised based on the agency that will provide the maximum share of the remaining built-up area (BUA) to the MHADA, excluding the rehabilitation portion,” the statement mentioned.
The redevelopment project will look at an investment of close to Rs 22,000 crore. It is planned to be developed as an integrated township that will have housing, workspaces, basic facilities like schools and open spaces in the vicinity. As per the redevelopment guidelines, of the approved 1,600 sqft demarcated for residential purposes, the developer will pay the cost of construction for 833.80 sqft additional area being redeveloped.
Of the approved 978 sqft non-residential land, the developer will pay the cost of construction for 502.83 sqft. Post the redevelopment, around 33,000 tenements will be made available.
FAQs
Post the redevelopment of Motilal Nagar how many tenements will be available?
According to the proposal, the redeveloped project will provide around 33,000 tenements.
Why did the Motilal Nagar redevelopment get the special project status?
The redevelopment project was awarded special project status because more area for construction was granted for redevelopment and the project is being spearheaded by a construction and development agency.
With 16+ years of experience in various sectors, of which more than ten years in real estate, Anuradha Ramamirtham excels in tracking property trends and simplifying housing-related topics such as Rera, housing lottery, etc. Her diverse background includes roles at Times Property, Tech Target India, Indiantelevision.com and ITNation. Anuradha holds a PG Diploma degree in Journalism from KC College and has done BSc (IT) from SIES. In her leisure time, she enjoys singing and travelling.
Email: [email protected]
Related Posts
Thane residents may soon get relief from traffic congestion.
Special coach for women introduced in Hyderabad Metro.
Absence of information, high debt of cities impeding municipal bonds: Moody’s.
Top 10 office markets that witnessed highest rental growth in Q1 2018: Colliers report.
Amrapali Supreme Court case: All latest updates.
Prosecute government officials for not acting on air pollution complaints: SC to pollution board.
