Mumbai : In a bid to raise capital for its cost-intensive infrastructure projects, the Mumbai Metropolitan Region Development Authority has revived its proposal to seek relaxation in height of structures in Bandra-Kurla Complex and Wadala. Earlier, CM Devendra Fadnavis had met Civil Aviation minister for permission to construct taller buildings in these two areas, which fall within 4-km radius of the Mumbai airport.
The height restrictions are not allowing MMRDA to fully utilise the allocated floor space index (FSI) in the area. In BKC and Wadala, Fadnavis has announced an FSI of 4. “We are getting a study done by International Civil Aviation Organisation; we had approached Airport Authority of India, who approached ICAO. They will soon send the proposal,” said UPS Madan, Metropolitan Commissioner, MMRDA.
If approved, it would be a windfall for MMRDA as its land bank is gradually getting depleted and it has planned several infra projects including Metro network in MMR worth Rs 35,400 crore, Mumbai Trans Harbour Link worth Rs 11,000 crore, Virar-Alibaug Multimodal corridor, etc. At present, the height restriction in BKC ranges from 46m to 82m. “The height relaxation we have proposed for BKC is 90m, while for Wadala, it can go beyond 200m,” said Madan. MMRDA has 139.98 hectares in Wadala of which 40 hectares are available for revenue generation.
Also, the MMRDA will auction two land parcels in G-Tex Block, BKC at the end of this month. The MMRDA, which had put land auctions on hold for seven years due to the global financial meltdown and sluggish real estate market. MMRDA will invite bids for one residential and one commercial plot admeasuring around 5,000 sqm.
