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MUMBAI: The long-awaited redevelopment of Ramabai Ambedkar Nagar and Kamraj Nagar in Ghatkopar is set to commence with the bhoomi pujan (groundbreaking ceremony) for Phase I scheduled for Tuesday, October 14.
The ₹8,498 crore mega project, being executed by the Mumbai Metropolitan Region Development Authority (MMRDA) alongside the Slum Rehabilitation Authority (SRA), aims to transform a sprawling 31.8-hectare area into a well-planned housing community featuring over 17,000 homes along with essential civic facilities.
In the initial phase, construction firm B G Shirke has been awarded the contract to build 4,345 tenements at a cost of ₹1,299 crore, expected to be completed within three years. As part of the preparatory measures, 3,662 hutments have already been removed, and the previous occupants are receiving rent compensation. Residential tenants are compensated with ₹15,000 monthly, while commercial tenants receive between ₹25,000 to ₹35,000, depending on their location.
Phase I spans 6.95 hectares and will feature 11 residential towers, each reaching up to 70 meters and comprising 22 floors. The design incorporates commercial spaces at the stilt level and basements for parking. “Each unit will offer a carpet area of 300 sq ft, and each tower will include eight elevators, including stretcher lifts,” said an MMRDA representative.
Ramabai Ambedkar Nagar is the largest rehabilitation settlement in the city and represents the most extensive rehabilitation initiative by the authority. Families will be relocated within the same area to ensure no displacement occurs.
Additionally, the project will feature community amenities such as anganwadis, libraries, youth centers, and fitness areas, adhering to the Development Control and Promotion Regulations (DCPR) 2034.
Approved in a meeting held by the MMRDA Authority under Chief Minister Eknath Shinde in December 2023, this redevelopment signifies MMRDA’s first independent step into slum rehabilitation. Previously, the agency’s housing initiatives primarily focused on rental housing schemes for persons affected by other projects.
A portion of the redeveloped land will also be designated for the planned Ghatkopar-Thane freeway, aimed at alleviating east-west traffic congestion and improving connectivity throughout the city. Officials noted that this corridor will integrate the redevelopment project with the broader transportation network.
To ensure the project’s financial sustainability, MMRDA has adopted a varied funding strategy. Out of the total project cost of ₹8,498 crore, ₹3,916 crore will be sourced through institutional loans. A loan of ₹1,500 crore has already been approved by the Bank of Maharashtra, marking the initial tranche of this funding approach.
MMRDA anticipates potential earnings of up to ₹3,000 crore through private investments. With the agency currently involved in the execution of 10 major metro corridors valued at over ₹75,000 crore, officials believe that the Ramabai Nagar project will significantly contribute to MMRDA’s internal revenue and support its infrastructure growth initiatives.
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