South Mumbai To Have Further 5 cr sq ft Added To Its Stock Soon

BDD ChawlsBy Accommodation Times Bureau

Mumbai: Redevelopment of BDD Chawls will bring almost 4 cr sq ft salable housing stock besides rehabilitation of these century old chawls. A special planning and development authority is constituted under Section 37(1AA). On On 23 August 2016, a special authority within MHADA’s jurisdiction was established to redevelop and rehabilitate BDD Chawls situated at Worli, Naigaon, N M Joshi Marg and Shivdi. Section 33(9)B gives these redevelopment a FSI of 4.

Other than this, the BDD Chawl Authority will also have to redevelop Cess Building acquired by MHADA under 33(9) and of 30 years old. Almost 16000 tenants will be getting a home of 500 sq ft.

Almost one crore sq ft will also be added by Custom and Excise Building at port Trust land. The project though private but will have a look alike public housing. The new building will home new one crore sq ft salable FSI apart from its own officers and offices.

There 19000 old and dilapidated building since 1949. Add to that there are almost 34000 Pugree Buildings in South Mumbai according to BMC record which requires immidiate reparis. Since long, political parties were lobbying to have cluster redevelopment of Municipal Ward C and D in south Mumbai. Bhendi Bazar and Crowford Market areas already on card and will add atleast one crore salable FSI in south Mumbai.

Add to worst, New TDR policy will have great impact on viability of South Mumbai projects. The flood gates are open for TDR acquisition on ongoing projects and new projects. Government also have incentive schemes while one can pay premium and avail higher FSI on a narrow plot in South Mumbai.

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