Hyderabad: A consortium comprising Tata Projects, Capicite Infraprojects and CITIC Group has been awarded a Rs 11,744 crore project for redevelopment of 90-year-old BDD chawl in Mumbai.
The Maharashtra government and Maharashtra Housing & Area Development Authority (MHADA) awarded the contract for redevelopment of existing BDD (Bombay Development Department) Residential and Commercial Societies (Chawls), one of the oldest British era developments.
The project, located in the premium hotspot of Worli, will involve redevelopment of 26 million square feet of area. It is set to employ over 10,000 people and the construction will be carried out in phases over eight years, Hyderabad-based Tata Projects said in a statement on Friday.
More than 10,000 families associated with this redevelopment will benefit by moving into a new home, will have access to improved quality of life and the region will witness large scale change.
"This is one of the largest single value infrastructure projects in the country. Execution of this skyline changing, socially beneficial project shall help Mumbai become a world class city.
"This win is also a testimony to TATA Projects focus on developing high quality social infrastructure, while maintain high standards of Safety," said Vinayak Deshpande, Managing Director TATA Projects Ltd.
The construction of 121 chawl buildings, each with 80 rooms, was completed between 1921 and 1925 to solve the massive housing shortage during that time.
Currently around 9,700 families reside in the project precincts. Since the housing colonies are now more than 90 years old and have completed their life cycle, the Maharashtra government decided to redevelop it.
The project is being developed by Mumbai Housing & Area Development Board, a regional unit of MHADA, and will be constructed in five phases. The project comprises of around 98 rehabilitation and sale buildings having 22 floors to 66 floors.
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Updated Date: Jun 22, 2018 19:34:58 IST