The Maharashtra Housing and Area Development Authority (MHADA) has moved forward with a preliminary proposal for the large-scale cluster redevelopment of Umarkhadi in South Mumbai, a project that could transform a 6.23-acre stretch comprising 81 ageing buildings into a modern residential precinct.
The redevelopment initiative is being undertaken by MHADA’s Building Repair and Reconstruction Board and will cover a mix of cessed buildings, PMGP structures and select privately owned properties located in the Umarkhadi-Byculla area.
According to the initial proposal, all 81 existing buildings, many of which have been deemed beyond repair, will be redeveloped into seven high-rise towers ranging between 40 and 81 storeys. The project aims to rehabilitate more than 2,000 residential and commercial occupants within the redevelopment site.
The cluster redevelopment is proposed under the Construction and Development Agency model, with the Repair Board currently preparing a detailed project report. Official records indicate that the project area presently contains 1,928 residential units and 268 non-residential tenements.
The estimated project cost stands at Rs 4,501.97 crore. Under the proposed model, MHADA expects to generate revenue of approximately Rs 1,041.74 crore from the redevelopment exercise.
To facilitate rehabilitation during the construction phase, eligible residential occupants will receive a monthly transit rent of Rs 25,000 in the first year. The amount is proposed to increase to Rs 27,500 in the second year and Rs 30,250 in the third year. Occupants of non-residential premises will be entitled to transit compensation at the rate of Rs 100 per square foot, with a 10 per cent annual escalation.
The proposed redevelopment would become the second major cluster redevelopment initiative undertaken by MHADA’s Repair Board after the Kamathipura redevelopment project.
Officials said the preliminary proposal has already been prepared, while work on the detailed redevelopment plan is currently underway. Once finalised, the proposal will be submitted to the Maharashtra government for approval. The project can move into the implementation stage only after receiving the necessary clearances from the state government.
Source: Pudhari
