The city's plush Altamount Road neighbourhood is all set for a revamp.
The plan to revitalise the 1.2-km stretch — chalked out by the Altamount Road Area Citizens Committee three years ago - just got the municipality's nod, and work will begin soon.
The 10th most expensive street address in the world (according to a survey by Wealth-Bulletin, a UK-based news agency) will be redesigned on the lines of Beverley Hills in the US, and landmark addresses in France.
The plan entails giving the area a distinct, uniform character, planning for smooth traffic, beautification of chowks, repair of road dividers, signage, installation of street furniture and small green belts on either side of the road.
Architect Ratan Batliboi, along with residents of the area, prepared the master plan after a detailed survey of underground utilities and street furniture in the vicinity. “Due to the detailing, as well as delays in getting permission to map the area, the plan is being reworked because we want the job done to engineering and aesthetic perfection," said Shirish Shah, convenor of the revitalisation plan.
Six corners in the area will be developed based on different themes, the idea being to create reference points across the road. Solar-powered lighting and rainwater harvesting are also part of the eco-friendly proposal.
Altamount Road's real estate prices could go as high as Rs 98,500 per sq ft. This area already houses the city's swish set, including the likes of Reliance Industries chairman Mukesh Ambani and Aditya Birla Group chief Kumar Mangalam Birla.
Last week, residents of the area presented the plan to Additional Municipal Commissioner R A Rajeev, who has agreed to it. He said: "We've cleared Phase I of the Altamount Road beautification project. But the other part of the project, which includes laying underground utilities through a common duct seems impractical.”
Phase 1 mainly consists of beautification of the area. Phase 2 was to move multiple underground utilities like electric cables, water pipelines, storm water drains into a common duct, and lay them together under the footpath so the road does not have to be dug up repeatedly - the civic body shot it down.
The project is now expected to cost more than its original estimate of Rs five crore. It will take at least two years to complete after the BMC's permissions come through.