64 flats worth Rs 1.15cr to clear way for project
What is the cost of turning your dreary 70-minute ride from Santacruz to Chembur to a 17-minute breeze? Sixty-four flats each worth Rs 1.15 crore in the plush Bandra-Kurla Complex (BKC).mumbai Updated: Mar 16, 2011 00:57 IST
What is the cost of turning your dreary 70-minute ride from Santacruz to Chembur to a 17-minute breeze? Sixty-four flats each worth Rs 1.15 crore in the plush Bandra-Kurla Complex (BKC).
In a move which could finally help in completing the much-delayed Rs242-crore Santacruz-Chembur Link Road (SCLR), is the Mumbai Metropolitan Region Development Authority (MMRDA) assurance to provide alternative accommodation to 64 families of Netaji Nagar. This resolves the long-pending compensation dispute and expedite work on the project.
These 64 families currently reside in two Maharashtra Housing and Area Development Authority (Mhada) buildings at Netaji Nagar in Kurla, which fall on the SCLR alignment. The residents, who have been in talks with the MMRDA for their rehabilitation, met the metropolitan commissioner Rahul Asthana on Tuesday. Asthana assured them that would be adequately rehabilitated.
“We have assured them of accommodation at BKC. They are actual owners of buildings and not encroachers and we will ensure that their rehabilitation is carried out accordingly,” metropolitan commissioner Rahul Asthana said.
These residents presently live in 217-sqft flat, but according to the new plan, they will get a 450-sq-ft flat. These flats will be built by HDIL near the BKC police station, close to Bharat Nagar. MMRDA will provide HDIL transfer of development rights in return for the cost of building the structure.
The flats will be handed over to the tenants in three years and the MMRDA will hand over Rs3.96 lakh to the residents for alternate accommodation during this period. This rehabilitation is likely to be one of the costliest accommodation programme undertaken by the MMRDA.
The present residential rates in BKC range between Rs18,000 to Rs20,000 per sqft. “Under the present valuation, their flats will be valued around Rs1.15 crore,” Asthana said. Residents of these buildings had earlier refused to vacate their properties, which had caused immense delay in the SCLR.
Part of the World Bank funded Mumbai Urban Transport Project (MUTP) Phase I, the SCLR is one of the most delayed projects. The SCLR would start from Chembur and terminate at Santacruz, thus creating another link and connecting the eastern and the western suburbs. Under construction since 2003, the project has been delayed by over six years. MMRDA had claimed that it would complete the 6.5-km project by December 2011. However, it is yet to get clearance from the Railways for crossing the railway lines at Tilak Nagar and Kurla. MMRDA officials claim that they will now need three or four more months to complete the project.