Maharashtra Housing Development Authority (MHADA)
The Maharashtra Housing Development Authority (MHADA) in a first of its kind initiative has decided to build score of 60-storey skyscrapers for middle and high income groups (MIG) and LIG) in the heart of the city. These towers will come up as part of the housing board‘s ongoing move to redevelop central Mumbai whereby in all, 8,210 apartments built by Mhada will hit the market in a belt currently cluttered with high-rise ultra-luxury housing. To date the nodal agency has mainly built low-rise buildings seven to 10 storey high for public housing and has recently built over 20 floors structure. But this is the first time contractors appointed for the task will construct over 60-storey buildings with a mix of MIG and HIG, said chief officer of MHADA‘s Mumbai Board, Subhash Lakhe. The CEO Milind Mhaiskar said that these new flats will disrupt the real estate market as these homes will be sold at a much lower price than what private developers charge in their high-end projects. These skyscrapers will come up at three locations—NM Joshi Marg at Lower Parel, Naigaum-Dadar and Worli—where the three BDD enclaves are situated. At Naigaum-Dadar, construction firm L&T has been appointed to redevelop the 13-acre BDD sprawl. As part of the free sale component, two skyscrapers, each over 60 floors high, have been planned. The 3,344 tenants, who are currently living in cramped 160 sq ft tenements, will be rehabilitated in separate 22-storey towers free of cost. Shapoorji Pallonji and SD Corporation were awarded redevelopment rights for the NM Joshi Marg BDD chawls, where two towers will be built as part of the free sale component