Mumbai Plans Slum Redevelopment for Jogeshwari, Chembur & Kurla Areas

Mumbai Plans Slum Redevelopment for Jogeshwari, Chembur & Kurla Areas

Mumbai Plans Slum Redevelopment for Jogeshwari, Chembur & Kurla Areas

In a major move to enhance urban living conditions, the Maharashtra Housing and Area Development Authority (Mhada) has submitted detailed redevelopment plans for slum areas in Jogeshwari, Chembur, and Kurla. These slum redevelopment plans are being executed in collaboration with the Slum Rehabilitation Authority (SRA).  A total of 228 slum schemes in Mumbai, located on land owned by various government agencies, have been stalled for years. However, these schemes are now set for redevelopment, with Mhada taking a leading role alongside the SRA in a joint venture.

Mhada has presented proposals to redevelop slums located in Jogeshwari (80 slum households), Chembur (117 households), and Kurla (110 households). These areas will undergo transformation under Regulation 33(10) of the Development Control and Promotion Regulations 2034, specifically designed for slum redevelopment. The SRA will handle the surveys, relocate slum dwellers, provide rent, and demolish existing hutments, while Mhada will manage the actual redevelopment and financing. Notably, the sale proceeds from these projects will be entirely allocated to Mhada.

In addition to Mhada, other government agencies such as the Mumbai Metropolitan Region Development Authority (MMRDA), the Municipal Corporation of Greater Mumbai (BMC), and various state bodies are also participating in the redevelopment of other slums across the city. For example, the MMRDA is overseeing the redevelopment of the Ramabai Nagar slums in Ghatkopar (East), with other agencies managing slum schemes in different areas.

The redevelopment of these slums is critical for achieving Mumbai's goal of becoming a global economic hub with a $1 trillion economy by 2030. As part of the city's development plans, slum rehabilitation and affordable housing are key priorities, with reports indicating that around 2.2 million slum households need to be resettled in the coming years.

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/