- TATA Projects, Capicit’eInfraprojects Ltd and CITIC Consortium announced that they have secured 11,744 Crorder for redevelopment of existing BDD (Bombay Development Department) Residential and Commercial Societies (Chawls) at Worli, Mumbai
Mumbai, June 25, 2018: The consortium comprising of TATA Projects, Capicite Infraprojects and CITIC Group has been awarded the project for redevelopment of existing BDD (Bombay Development Department) Residential and Commercial Societies (Chawls), one of the oldest British era developments in Mumbai by the Government of Maharashtra (GoM) and Maharashtra Housing & Area Development Authority (MAHADA).The project, located in the premium hotspot of Worli, Mumbai, will involve redevelopment of 26 million square feet of area. It is set to employ over 10,000 people and the construction will be carried out in phases over a period of eight years.
More than 10,000 families associated with this redevelopment will benefit by moving into a new home, will have access to improved quality of life and the region will witness large scale change (in the societal upliftment of the neighbourhood).
Commenting on being awarded the project Mr. 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, shall help Mumbai become a world class city. This win is also a testimony to TATA Projects focus on developing high quality social infrastructure, while maintain high standards of Safety.”
This massive commercial & residential development is the biggest redevelopment project in India. This urban renewal project is of significant national importance towards societal upliftment as it intends to provide safe and secure habitat, develop critical support infrastructure and improve the surrounding environment, thus raising the quality of life. It shall serve as a model for other Chawl development projects. The project also aims to increase the economic output through provision of commercial centres within the precinct. The implementing agency for the project is Maharashtra Housing & Area Development Authority (MAHADA).
Corporate Comm India(CCI Newswire)
