MMRDA (Mumbai Metropolitan Region Development Authority) to redevelop Ramabai Ambedkar Nagar, one of Mumbai’s oldest slums, into a mixed-use (residential+commercial) hub. The plan was discussed in the authority’s meeting with the CM and chairperson of MMRDA, Eknath Shinde, on December 12.
The authority will undertake the redevelopment in a JV (joint venture) with SRA (Slum Rehabilitation Authority), where MMRDA will be the project implementation agency. Ramabai Ambedkar Nagar currently houses nearly 16,500 slum dwellings over 75 Acres of land parcel. The government agency will follow the necessary process of identifying the PAPs (Project Affected People) before rehabilitation.
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The project tenders for sale and lease will be floated after completing the land acquisition, which will be free of cost. The scope of work also includes connecting the Eastern Freeway (EF) with the Eastern Express Highway (EEH) to improve road connectivity within the redeveloped hub.
The redevelopment will enable MMRDA to generate an estimated INR 4,000 Crore or more, given the cost of land. The authorities expect revenue of INR 1,073 Crore from the sale of residential units, while commercial hubs will fetch higher revenue.
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