Mumbai: The redevelopment of the government colony in Bandra East, which currently houses Mantralaya staffers, will release 20 acres of prime land in the queen of Mumbai suburbs.
The public works department (PWD) has undertaken the project, costing Rs 296.12 crore, and is expected to complete it by 2021. In all, 14 towers of ground plus 16 stories each will be built. For this redevelopment, about six acres of land will be utilised.
The Bandra government colony land is spread over a lavish 96.12 acres, of which six will be utilised to build the new structures. This colony is close to Kherwadi, where Chief Minister Uddhav Thackeray's family residence, Matoshree, is located, near the Bandra-Kurla Complex, one of the costlier business districts in Mumbai.
Twenty acres of prime space getting freed in a premier Mumbai location is going to prove a bonanza for the government. Ready Reckoner rates peg the value of land in Bandra (E) as follows-:
Open plot- Rs 92,000 per sq. metre
Residential apartment- Rs 1.67 L per sq. m
Office- Rs 1.83 lakh per sq. metre
Shops- Rs 2.80 lakh per sq. metre
Commercial- 1.67 lakh per sq. metre.
The land which will be freed thus will be used for other government schemes and projects, which are also expected to boost the state's deplorable finances.
The buildings were 45-60 years old and frequent repairs were straining government revenues. This is how the redevelopment plan was born, said an official.
About 2,000 staffers from different government departments working in Mantrayala live here. Of the 14 towers, two will be for Class 1 officers and house 120 tenants, while 2,012 staffers of Classes 3 and 4 will be provided houses in the remaining 12 buildings.
The redevelopment has been divided into four phases. In Phase 1, two buildings are expected to be completed by June 2020. Similarly, in Phase 2, four buildings will be built, with a projected completion date of September 2020.
While in Phases 3 and 4, six buildings will be completed by December 2020 and the remaining, by March 2021. The buildings will be constructed using the slip-form method (concrete is poured into a continuously moving form) and the walls will be seamless, since no brick will be used.