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Maharashtra Cabinet Approves Redevelopment of Adarsh Nagar and Bandra Reclamation MHADA Layouts

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Maharashtra Cabinet Approves Redevelopment of Adarsh Nagar and Bandra Reclamation MHADA Layouts

Maharashtra Cabinet Approves Redevelopment of Adarsh Nagar and Bandra Reclamation MHADA Layouts

Maharashtra Cabinet Approves Redevelopment of Adarsh Nagar and Bandra Reclamation MHADA Layouts

The Maharashtra state cabinet has granted approval for the joint redevelopment of two significant MHADA layouts — Adarsh Nagar in Worli and Bandra Reclamation in Mumbai. The cabinet's decision includes the allocation of a floor space index (FSI) of four for the redevelopment, with MHADA receiving housing stock equivalent to one FSI in both locations. This move is aimed at rejuvenating these key areas and addressing Mumbai's housing shortage.

Details of the Redevelopment Plan

The redevelopment covers two major layouts:

  • Bandra Reclamation: Spread across approximately 2 lakh square meters, this layout consists of 52 buildings with a total of 1,688 residential units, each ranging from 322 to 825 square feet.

  • Adarsh Nagar: Located on 68,000 square meters, this layout contains 58 buildings with 863 residential units, ranging from 270 to 860 square feet.

The redevelopment is expected to enhance the residential capacity of both areas. MHADA will receive housing stock equivalent to one FSI, which will help meet the growing demand for affordable housing in Mumbai.

Developer Selection and Consent Process

The redevelopment will be managed by a Construction and Development Agency appointed by MHADA. The winning bidder will be selected based on their ability to provide the maximum housing stock to MHADA while meeting the financial and physical requirements specified in the tender.

To move forward, the developer will be required to obtain consent letters from at least 51% of the total members of the cooperative housing societies in both Adarsh Nagar and Bandra Reclamation. This ensures that the redevelopment process has the support of the majority of residents.

Implications for Mumbai’s Housing Market

This approval represents a major step toward addressing Mumbai’s housing challenges. With limited space for new developments, the redevelopment of existing layouts is a key strategy for increasing the city's residential capacity. By providing more housing options through this joint redevelopment initiative, the Maharashtra government is taking important steps to enhance the affordability and availability of homes in one of the world’s most densely populated cities.

Conclusion

The approval of the joint redevelopment of Adarsh Nagar and Bandra Reclamation by the Maharashtra cabinet will bring much-needed revitalization to these two areas. The use of FSI of four will allow for a significant increase in the housing stock, while MHADA’s involvement ensures that the project aligns with the state’s affordable housing goals. As the project progresses, it is expected to play a vital role in addressing the housing needs of Mumbai’s residents.

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About the author
Sandeep Sadh

About Sandeep Sadh

Sandeep Sadh has been in the real estate business since 1993 in Mumbai. He has expertise in Buying, Selling, Leasing properties in Mumbai and a deep understanding of legal and tax related matters due to his experience.

Summary

Over the years, he has experienced the City's growth. He has been a columnist in the Times of India with numerous articles, which bring about a clear picture of the real estate market in Mumbai. He is a regular on NDTV, CNBC, ET Now Real Estate and Zee News, giving his experienced quotes as and when required.

Sandeep Sadh has used information and technology since the year 1998 and now what people call it Prop Tech to cater to the needs of Home Buyer, Seller, Investor and Corporates, HNI and NRI looking to Buy/Sell or Lease their properties in the Mumbai Property Market.

Sandeep has a holistic experience of real estate be it Leasing an Apartment for your CEO in the most upmarket buildings, to enter into a long lease for your office in Mumbai in prime buildings or an Investment in good projects with a detailed analysis keeping in mind the Demand and Supply and other micro factors of the project/property.

Sandeep Sadh has developed a few websites like www.mumbaipropertyexchange.com, www.realestatemumbai.com, www.propi.in which augment the real estate consulting business.

Right from Investments in Primary Markets to Selling, leasing and specializing for NRI’s all over the world. He is an expert in NRI Home Buying and Selling and has a good understanding of the Income Tax laws pertaining to Selling a Property and Repatriating funds overseas or reinvesting based on Capital Gains etc.

Experience

  • Residential Leasing
  • Commercial Leasing
  • Residential Home Buying
  • Commercial Property Buying
  • Investment Properties with complete Property Management as your Real Estate Family office

While transacting in the above segments, he has complete experience and deep understanding of the paper work, his areas of expertise are :

  1. Drafting of the Leave and License Agreements
  2. MOU for Buying/Selling Properties
  3. Drafting Agreement for Sale
  4. Gift Deeds
  5. Computing of Capital Gains with current ready reckoner values
  6. Drafting of Supporting Power of Attorney.

As an add on Service, Sandeep Sadh has tied up with various Professionals like Lawyers and Chartered Accountants who add value in transacting and specially services for Non Resident Indians.

Application to Income Tax for Lower Tax Deduction Certificate – Through a qualified CA and keeping a grip on the traction so that the remittance back to Non Resident Indians after Selling the property is seamlessly transferred.

You can connect with Sandeep Sadh on ssadh@mumbaipropertyexchange.com

LinkedIn - https://www.linkedin.com/in/sandeepsadhmpe/

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