Real estate developers Adani Properties, Lodha Developers, and JSW Realty & Infrastructure have emerged as key contenders for two large-scale MHADA redevelopment projects in Mumbai involving prime land parcels at Bandra Reclamation and Worli. Together, the redevelopment sites span more than 200 acres and comprise ageing MHADA layouts that were constructed over five decades ago.
The projects include a 98.27-acre plot at Bandra Reclamation and a 34.33-acre parcel spread across Adarsh Nagar in Worli. For another proposed redevelopment project covering 73.89 acres at SVP Nagar in Andheri West, Adani Properties is competing against Reliance 4IR Realty Development Ltd and Hanura Realty Pvt Ltd.
All three land parcels consist of old MHADA housing layouts that have witnessed limited redevelopment activity over the years, prompting plans for large-scale renewal. The projects are being undertaken by the Maharashtra Housing and Area Development Authority (MHADA) under the construction and development agency (C&DA) model. Under this framework, the selected developer will redevelop the entire cluster, provide in-situ rehabilitation to eligible residents, and receive a portion of the land for commercial sale and project monetisation.
A similar redevelopment approach is currently being implemented by Adani in the 143-acre Motilal Nagar redevelopment project in Goregaon, alongside the Dharavi redevelopment initiative.
Following the tender submission deadline on May 18, developers will now compete based on technical and financial evaluations. The bidder offering the highest housing stock to MHADA is expected to gain an advantage during the selection process.
Additional MHADA layouts proposed for redevelopment in the future, subject to state government approval, include Ramkrishna Nagar in Khar and the Old MHB Colony in Borivali.
The Bandra Reclamation redevelopment covers 1,147 tenements, where eligible residents are expected to receive rehabilitation homes ranging from 930 sq ft to 1,980 sq ft carpet area. Meanwhile, the Adarsh Nagar project in Worli includes 873 residential units.
At SVP Nagar in Andheri West, which houses 4,548 tenements, rehabilitation flat sizes are expected to range between 680 sq ft and 2,280 sq ft. While several residents have opposed the redevelopment plans and approached the courts, MHADA had previously secured a favourable ruling in a similar dispute related to the Motilal Nagar redevelopment project.
Source: The Indian Express
