Mumbai University to earn over Rs200cr through MMRDA deal

  • HT Correspondent, Hindustan Times, Mumbai
  • Updated: Apr 20, 2016 23:47 IST

The University of Mumbai (MU) is set to earn over Rs200 crore as the Mumbai Metropolitan Region Development Authority (MMRDA) has issued about 66,000 square metres of Transfer of Development Rights (TDR) for using part of its land in the Kalina campus for constructing roads.

The MMRDA requires a total of 3.3 hectares of land in the campus to build an elevated road over Santacruz-Chembur Link Road (SCLR) and an extension road from Bandra- Kurla Complex (BKC) to Western Express Highway (WEH).

“The university’s administration has agreed to give 3.3 hectares of land in the campus. While, 1.8 hectares will be used for an extension road along Vakola nullah, the remaining 1.5 hectares will be used for the elevated road on the SCLR. We have allotted TDR double to that of land being acquired. The university is expected to earn over Rs200 crore by selling the TDR. We are going to sign a Memorandum of Understanding (MoU) with the university soon,” said a source close to the development. These roads will help commuters from Chembur and BKC avoid traffic snarls in Kapadia Nagar and Kalina.

The 3.5km elevated road will be a four-lane flyover on 6.5km SCLR and one of its ramps towards Vakola will be connected to the Vakola flyover, which will be used for dispersing SCLR traffic on the WEH. The Rs413 crore flyover will start at Kapadia junction (Imam Ahmad Raza Chowk) near LBS road flyover and end at WEH.

The 1.9km extension road will start at the Asian Heart Institute and will join the SCLR flyover near WEH. It will cost Rs263 crore.

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