All You Need To Know About BDD Chawl Redevelopment Project
It seems the day is not far when Mumbai’s Central Line areas will be dotted with high rise buildings instead of low-cost housing colonies, built during the British era, post 1920. These chawls are all set to be brought down to make way for tall buildings that will rehabilitate over 15,500 families staying in Naigaon, Lower Parel and Worli. While the Naigaon area is being redeveloped by L&T, Shapoorji Pallonji are working in Lower Parel area and recently Tata Group has been awarded the tender for redeveloping the Worli area. The winning bid by the Tata led consortium is facing litigations and the construction work has been halted.
The redevelopment project was in the pipeline for the past 14 years but lack of political will and red-tapism has kept the files buried deep until 2014. The nodal agency for the redevelopment of 195 chawls in Mumbai is Maharashtra Housing and Area Development Authority (MHADA). According to the media reports, BDD Chawl residents will be getting the biggest homes under any redevelopment scheme that is in existence in Mumbai. Every tenant will get 500 sq ft unit worth Rs 2 crore in exchange of 160 sq ft. The tower coming up in Worli will be the tallest with 67-storey while the one in Naigaon and Lower Parel will be 22-storey. The total estimated cost for the entire project is Rs 16,000 crore. After allotting it to the tenements, the authority will sell the substantial units at an affordable price. The sample flat is ready at Lower Parel and Naigaon and almost 18,000 people have already visited the place.
1920: BDD Chawls came into existence.
2004: Redevelopment process began.
2014: Stuck for 10 years, the project finally made progress as the sample flats were readied in Naigaon and Lower Parel
2017: Mhada chose Shapoorji Pallonji and L&T for redeveloping Lower Parel and Naigaon project.
2018: Worli project awarded to Tata. Competitors challenge winning bid.
Delight for Mumbai buyers
The redevelopment project amidst the island city will be a delight for home buyers who want to invest in prime localities such as Worli and Lower Parel where a majority of commercial operations are coming up along with connectivity. Although there is no dearth of fresh supply of apartments in these areas but the high price points have deterred middle-class buyers from investing here. With this redevelopment project, many mid-segment buyers would be able to apply for Mhada flats. However, there would be surplus pressure on the infrastructure as currently 15,000 families are settled in the area measuring 92 acres. This will be increased manifold once the high-rise structures take shape. The importance of adequate facilities and amenities is more, especially on this stretch.