MMRDA & SRA ink agreement to develop Ramabai Nagar slum pocket in Ghatkopar, ET RealEstate

March 6, 2024
0 Comments


<p>File Photo</p>
File Photo

MUMBAI: In a significant move towards the redevelopment of the Ramabai Nagar and Kamran slum pocket in Ghatkopar, a joint agreement has been inked between the Mumbai Metropolitan Region Development Authority (MMRDA) and the Slum Rehabilitation Authority (SRA).

This slum sprawl spread across 75 acres of area is located off Eastern Express Highway.

The signing ceremony took place in the presence of Chief Minister Eknath Shinde.

A MMRDA official stated, “This agreement paves the way for the seamless progress of the project, with surveys scheduled to begin shortly to assess eligibility.”

The survey of the slum dwellers will be conducted by the SRA, which will also be responsible for handing over vacant possession of the land to MMRDA.

MMRDA’s primary objective is to develop infrastructure, including road projects, flyovers, and Metro corridors.

This marks the first time that MMRDA will undertake a slum redevelopment project. Previously, it had implemented a Rental Housing project in the Mumbai Metropolitan Region by granting high Floor Space Index to builders, with the housing stock then allocated to project-affected people (PAPs).

The Ramabai nagar proposal received approval at the Authority meeting held in Nagpur under the chairmanship of Chief Minister Eknath Shinde on December 12, 2023.

The project is essential for MMRDA to generate funds from the sale of landWith significant expenditures earmarked for infrastructure projects this decade, including 10 metro projects (excluding Metro 3 and Metro 1) totaling 75,000 crore, MMRDA faces financial constraints.

MMRDA has initiated the process to secure a Rs 4,000 crore loan to facilitate the development of this slum pocket, covering all stages from execution to construction.

The authority anticipates a 3-year timeline to complete the project from the day the land is transferred by the SRA.

MMRDA has already prepared the Detailed Project Report (DPR) for this initiative.

This projects will also help in rehabilitation of 2000 slums along the Eastern Express Highway and Western Express Highway, whose widening will then become viable.

The state government is planning similar type of agreement involving BMC, Mhada, TMC, CIDCO etc to give a fillip to delayed slum rehabilitation projects in MMR.

  • Published On Mar 6, 2024 at 09:20 AM IST

Join the community of 2M+ industry professionals

Subscribe to our newsletter to get latest insights & analysis.

Download ETRealty App

  • Get Realtime updates
  • Save your favourite articles


Scan to download App




Source link

Abhay Singh

Web Developer