HYDERABAD: Tata Projects has secured Rs 11,744 crore order for the redevelopment of existing Bombay Development Department’s (BDD) residential and commercial societies (chawls) at Worli, Mumbai.
The consortium comprising Tata Projects, Capacit’e Infraprojects and CITIC Group has been awarded the project for redevelopment of one of the oldest British era constructions in Mumbai by the Government of Maharashtra.
Located in Mumbai’s hotspot Worli, it will involve redevelopment of 26 million sq ft of area, benefiting more than 10,000 families, enabling them to move into a new home and have an improved quality of life.
“This is one of the largest single value infrastructure projects in the country. Execution of this skyline changing, the socially beneficial project shall help Mumbai become a world-class city. This massive commercial and residential development is the biggest redevelopment project in India and is of significant national importance towards societal upliftment. It shall serve as a model for other chawl development projects.
The project also aims to increase the economic output through the provision of commercial centers within the precinct,” said Vinayak Deshpande, MD of Hyderabad-based Tata Projects Limited.
Redevelopment of the 90-year-old chawls will be carried out in phases over a period of eight years, creating employment for over 10,000 people.
Maharashtra Housing and Area Development Authority will be the implementing agency for the project comprising around 98 rehabilitation and sale buildings with 22-66 floors.