Mumbai: BDD chawl redevelopment project takes off; here’s all you want to know about the Rs 16,000 crore project

The Bombay Development Directorate (BDD) chawls redevelopment work kicked off on Saturday after being inaugurated by Maharashtra Chief Minister Devendra Fadnavis.

Buyers and investors as well as developers are understandably worried that the final ticket size of homes will increase even if the Government levies GST at 12%, when compared to the existing service tax rates.

The Bombay Development Directorate (BDD) chawls redevelopment work kicked off on Saturday after being inaugurated by Maharashtra Chief Minister Devendra Fadnavis. The project which is expected to cost Rs 16,000 crore is spread across 92.86 acres, Indian Express reported. As per the plan, 68 percent of the prime land in Mumbai’s Worli locality will be dedicated for the residential use and – 625 sq feet homes with a carpet area of 500 square feet will be built. The remaining 32 percent of the land would be allowed for commercial purpose.

Speaking at the inauguration, the chief minister said that the delay in taking the project forward since last 21 years was because of vested interest of previous governments. “Instead of BDD chawl residents, the previous government’s concern was vested interest,” the chief minister said. Because of this, thousands of chawl residents were deprived of the benefits of the redevelopment project. He also said that apart from BDD chawl, there are around 14,000 dilapidated structures, whose development will also be taken up.

“To pave the way for quick redevelopment work, I even made amendments in the existing Act to facilitate better houses and civic amenities for the people. We have ensured that redevelopment would bring maximum benefit to the residents and not the private developers. The project is not developer-driven as was being done in the past,” the paper further quoted him as saying. Devendra Fadnavis also pointed out that residents will be provided bigger accommodation from the existing 160 square feats.

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Larsen &Tourbo and Sahapoorji Pallonji have started work in Naigaum chawls and Lower Parel chawls, which will be developed in the first phase.

An official while indicating that the project would be complete in seven years said that redevelopment would generate 16,000 affordable houses. He added that Naigaun chawl project would be worth Rs 3,100 crore, while Lower Parel project would cost Rs 2,900 crore.

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