The Slum Rehabilitation Authority (SRA) in Mumbai recently issued a Letter of Intent (LoI) for the redevelopment of three slum pockets facing the sea situated opposite Badhwar Park near Cuffe Parade.
This comes over 10 years after the SRA first tabled the proposal for the same. Badhwar Park happens to be the same region where the terrorists that perpetrated the 26/11 attack first landed, including Ajmal Kasab.
When implemented, this project is poised to become Mumbai’s most expensive SRA scheme where flats sold could cost between ₹5 crores to ₹10 crores. Meanwhile, residents of the slum pockets in Garib Janta Nagar, Mahatma Jyotiba Phule Nagar, and Amrapali will be shifted to a permanent home in the region.
The project will be undertaken by Neumec Group, which has set a construction deadline of two years. When completed, the existing slum hutments will be replaced by a 28-storey tower for existing residents of the slum and another 24-storey tower will be built with flats/apartments for sale. The ready reckoner rates in the region right now stand at ₹57,000 per square feet.
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“We have received the LoI and now we will apply for a clearance to the Maharashtra Coastal Zone Management Authority (MCZMA). We hope to complete the project in two years. The sale component will include mid-size housing and not luxury housing,” a spokesperson for the Neumec Group said.
The three slum colonies in the region were built in the 90s and residents have welcomed the move given the fact that a rehabilitation plan has been long underway. These slums are situated along the Captain Prakash Pete Marg.
Prabhakar Tambe, the chief promoter of the Amrapali Cooperative Housing Society said, “We are very happy that finally permissions have come for slum rehabilitation. We will cooperate with the authorities and hope there are no further hurdles in the redevelopment.”
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Officials from the SRA have said that development in the region spanning 3,400 square metres will be conducted together. They added that the slum rehabilitation complex, as well as the tower that will be put on sale, will have unobstructed views of the sea.
“We will first construct the rehabilitation tower and then the sale component. We are yet to finalise the exact size of the flats in the sale component, so no pricing has been fixed yet. We will get all the permissions and finish this project in a time-bound manner,” the Neumec Group spokesperson added.
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