Maharashtra government to start redevelopment of 5,000 Bandra colony staff quarters this year
The public works department (PWD) is expected to undertake the redevelopment in phases.mumbai Updated: Apr 18, 2018 15:03 IST
The redevelopment of the Bandra government colony, spread over 97 acres, will start by this year, with the Maharashtra government planning to reconstruct the 5,000 staff quarters.
The public works department (PWD) is expected to undertake the redevelopment in phases, starting with a five-acre plot first.
The existing ground-plus-three structures will be converted into ground plus 12, 14 and 16 storey buildings.
“We estimate that nearly 75 per cent of the land will get opened up, as we can avail additional Floor Space Index (FSI). Some of this land has also been promised to the high court for its building and premises. The remaining land we plan to monetise in phases by auctioning it off,” said a senior bureaucrat.
FSI refers to the ratio of the total buildable area vis a vis the size of the plot. It roughly indicates how high a building can be constructed.
HT had reported earlier that such an auction can fetch the government nearly Rs20,000 to Rs40,000 crore.
The land at Bandra, next to Bandra Kurla Complex, is one of the most prime real estate areas in the city.
The decision to go ahead with the redevelopment of staff quarters was taken in a review meeting held by the chief minister this week, since several buildings are in a dilapidated state.
“The CM has said that we can go ahead with the plan. We had prepared only a rough conceptual plan, and now a detailed project report will be prepared through a consultant, and then work contracts will be given out,” said a PWD engineer, who did not wish to be named.
The PWD hopes to complete the project within 18 months.
The redevelopment of this colony has been pending since the last eight years. The former government had decided to redevelop the colony through three developers. The three developers were to pay the government Rs1,300 crore besides redeveloping the quarters and other government amenities in exchange of nearly 20 acres of land for commercial development.
This deal got scrapped after two of the builders failed to cough up the required money to seal the deal. There were also allegations of bias and favouritism in selecting the builders. Fadnavis had decided that instead of handing over prime property to developers, the government should reap maximum gains from the land by auctioning it.
First Published: Apr 18, 2018 14:28 IST