Mumbai, March 6: The Guru Tegh Bahadur Nagar (GTB Nagar) Redevelopment Project of Sindhi refugee buildings at Sion Koliwada, being implemented by the Maharashtra Housing and Area Development Authority (MHADA), has achieved a significant milestone.
All the cooperative housing societies in the project have executed the Tripartite Development Agreement with MHADA and the appointed Construction & Development Agency (C&DA), Rustomjee Group.
Additionally, the Construction-cum-Development Agreement has also been formally signed. The agreements were signed at MHADA Headquarters in Bandra in the presence of Sanjeev Jaiswal (IAS), Vice President & Chief Executive Officer, MHADA; Milind Borikar, Chief Officer, Mumbai Board, MHADA; and Boman Irani, Managing Director of Keystone Realtors (Rustomjee Group).
MHADA’s first redevelopment project on private land
Notably, this is MHADA’s first redevelopment project on private land to be implemented through the C&D Agency model. Following government approval and completion of the agreement process, the project will now move forward to the implementation stage.
Under this redevelopment, three modern residential towers ranging from 39 to 48 storeys will be constructed for approximately 1,200 eligible beneficiaries. As per Development Control Regulation 33(9), a minimum FSI of 4.5 (inclusive of fungible FSI) will be made available.
Each eligible beneficiary will receive a free 635 sq. ft. self-contained residential unit with modern amenities. The project will be developed as a gated community, with accessible multi-level basement and podium parking facilitated through conventional ramp access.
Rent support and maintenance provisions
Upon receipt of the Commencement Certificate (CC) from the competent authority, all eligible resident beneficiaries will be provided a monthly rent compensation of Rs 20,000. Further, after completion of the project, MHADA will undertake the maintenance and management of the buildings for a period of five years.
Keeping in mind the holistic well-being of residents, the project will offer state-of-the-art lifestyle amenities including a fully equipped gymnasium, indoor games zone, yoga/multi-function studio, children’s play area, library, and a spacious banquet hall of approximately 4,000 sq. ft. with an attached kitchen.
Background of the redevelopment project
The GTB Nagar Redevelopment Project, spread across approximately 11.20 acres, comprises the historic colony of 25 buildings with around 1,200 tenements. In 2020, these buildings were declared dangerous by the Municipal Corporation of Greater Mumbai and were subsequently demolished, requiring residents to relocate.
As per the demand of residents, the Government decided to implement this redevelopment on private land through MHADA. The policy framework for the project was finalised by Chief Minister Devendra Fadnavis.
In the Cabinet meeting held on February 14, 2024, approval was granted for redevelopment under Regulation 33(9) through a Construction & Development Agency. Subsequently, through a Government Resolution dated February 23, 2024, MHADA was granted the status of Special Planning Authority for the project.
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With its modern architectural design, high-quality construction technology, and comprehensive lifestyle amenities, the GTB Nagar Redevelopment Project is poised to serve as a benchmark for future redevelopment initiatives.
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