MMRDA Opens Bidding for Ramabai Nagar Slum Redevelopment

Speedy summary

• MMRDA’s first SRA Scheme: The Mumbai metropolitan Region Development authority (MMRDA) has initiated its first autonomous slum rehabilitation project, inviting construction bids for 5,623 tenements in Phase I of the Ramabai Ambedkar Nagar and Kamraj Nagar redevelopment plan.
• Project Details: The Rs 8,498 crore initiative spans 31.83 hectares in Ghatkopar and includes over 17,000 planned housing units,civic amenities such as anganwadis and libraries,youth centers,fitness facilities according to DCPR 2034 guidelines. A freeway link is also planned to enhance connectivity between Ghatkopar and Thane.
• Phase I Specifications: covering approximately 6.95 hectares with a target completion within three years after land transfer from the Slum Rehabilitation Authority (SRA), Phase I will feature 11 residential towers with up to 22 floors each and parking facilities at basement level alongside commercial zones.
• Financial Plan: Funding involves Rs 3,916 crore institutional loans combined with revenue generated internally by MMRDA-ensuring transparency throughout execution; additional income possibilities via specific site-sales leveraging housing Inventory counterparts allocation across Self-mode possible earnings originating surplus transactional trade-off dependants alternatives mentioned financing applicable series envisioned thru institutional.entries2indirect.

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