Mumbai: Despite the Maharashtra Housing And Area Development Authority (MHADA) making it clear that it intends to do cluster development of its large colonies like the one at the Bandra Reclamation, Adarsh Nagar, Worli and Abudhya Nagar at Kalachowki, the residents' association of Bandra Reclamation is going ahead with its plan to redevelop their buildings.
On February 10, 2023, the Free Press Journal had broken the story of MHADA's intention to redevelop its colonies, including the one at Bandra Reclamation, on its own.
But surprisingly UNICOS, a union of cooperative societies representing 23 buildings from Phase 1 and Phase 2 of MHADA’s Bandra Reclamation colony, is going ahead with its plans. It convened a meeting of residents on Sunday to consider its plans for redevelopment. The FPJ has a copy of its notice for the meeting.
Mega project
The mega project spread over 2.5 lakh sq mtrs and is estimated to be Rs16,000 crore. At present there are 280 flats in these MHADA buildings. Even after giving free extra space to existing residents in the redeveloped building, the sale of apartments in the free sale component is expected to yield a killing to MHADA primarily because of the posh location of the site. The locational advantage includes proximity to the sea, BKC and the airport. In fact, given the open area all around, flats here may fetch more than in other parts of Bandra West after redevelopment.
Interest in the prestigious project
It is learnt that UNICOS secretary Subroto Chakraborty and Chairman Padmakar Kulkarni have been spearheading the proposed redevelopment plan for the past two years, without much success. But now their plans appear to have received a fillip. Several project management consultants and builders, including the Adanis, are apparently evincing interest in the prestigious project. However, the venture cannot proceed even by one inch without the consent of MHADA, which has already sent a note to the state housing department in this regard.
However, what is surprising local residents is how UNICOS is going ahead with its plans despite MHADA making it clear that it will be undertaking the redevelopment itself. Even if MHADA does give conveyance of its land to UNICOS, there is a likelihood of it being challenged in the courts because the loss to the housing body will be enormous.
