Tata projects, Capicit'e, CITIC bag Rs 11000 crore chawl redevelopment project
Redevelopment will involve shifting of around 10,000 residents, who are currently living in the chawls.
Mumbai: Tagged as one of the biggest redevelopment projects in the country, redevelopment of the BDD chawl, Worli, will be executed by a consortium of Tata Projects, Capicit’e Infraprojects Ltd. and CITIC (China). The trio has bagged the Rs 11,744 crore project.
The project to revamp the 90-year-old British colony, consisting of total number of 195 chawls, was awarded by the state Government and the Maharashtra Housing and Area Development Authority (Mhada) on Friday.
Redevelopment will involve shifting of around 10,000 residents, who are currently living in the chawls. Constr-uction will be done in eight phases and work is expected to begin soon. There are more than 15,000 tenants in these chawls and after redevelopment, they will get homes of 500 square feet each. Sample flats of 500 square feet have already been displayed to the residents earlier this year.
Vinayak Deshpande, managing director, Tata Projects Limited, said, “This is one of the largest single value infrastructure projects in the country. Execution of this skyline-changing, socially-beneficial project will help Mumbai to emerge into a world-class city.”