Green nod for high-rise realty project at Wadala
One of the biggest real estate projects in central Mumbai, Lodha Group’s Green City at Wadala, has got a green nod from the state’s apex environment panel.mumbai Updated: Aug 17, 2011 00:45 IST
One of the biggest real estate projects in central Mumbai, Lodha Group’s Green City at Wadala, has got a green nod from the state’s apex environment panel.
The project is spread across six acres and can create 4,408 new apartments.
Last year, Lodha Group created a national record after it brought this plot from Mumbai Metropolitan Region Development Authority (MMRDA) for Rs4,053 crore.
Now, construction on this plot, which envisages ten 63-storeyed residential towers and one commercial 47-storey tower, can finally take off.
The State Environment Impact Assessment Authority (SEIAA) has given a conditional clearance for this project to begin work up to 70m.
The developers will have to get clearance from the High Rise Committee of the civic body and a no objection certificate from the civil aviation ministry to construct further. The height of the proposed ten towers is 205.47m.
“The panel has given clearance for the project to start work up to 70m. To construct further, it will have to approach SEIAA again once it gets a go ahead from these two authorities,” said a senior member of the panel, on condition of anonymity.
The panel granted clearance because the project had received a nod from the state expert appraisal committee — panel of experts, which first scrutinises such projects — and had complied with all the conditions laid down by this committee.
The project developer had sought for an environmental clearance admitting that it did not have no-objection certificate from civil aviation ministry, despite efforts made by it and MMRDA.
“The developer is losing an interest of Rs1 crore daily because it has already begun making payments to MMRDA. The High Rise Committee also does not consider an application unless it has environment clearance,” noted the minutes of the SEIAA meeting, held on August 4 and 5.
The project being developed on part of the Wadala truck terminus land has a Floor Space Index (FSI) of nearly 20. MMRDA had earlier proposed an iconic commercial tower of 101 storeys on this plot but changed its plans after the project received a poor response.
The planning agency then allowed for multiple towers allowing 100% of residential usage.
This fetched it double the price than it expected through the Lodha bid. The plot is close to Eastern Expressway and a few meters away from the proposed monorail station and hence considered as a prime realty.
The entire Wadala truck terminus, spread across 46 hectares, has a FSI of four. All of this is being allowed to be utilised on this six-acre plot. The FSI allowed in the city is two.
First Published: Aug 17, 2011 00:42 IST