Last Updated on August 27, 2021 by Admin
A consortium of Capacit’e Infraprojects Limited (Lead Member), Tata Projects Limited and CITIC Construction Co Ltd, has bagged an order worth Rs 11,744.26 crore from BDD (Bombay Development Department) the Mumbai Housing and Area Development Board
The project will be executed through a Special purpose vehicle in which Capacit’e Infraprojects Limited will have 37.1 percent share worth Rs 4,357.12 Crore. A share of Tata Projects Limited in the Consortium will be 36.9 percent and CITIC Construction Co. Ltd. will have 26 percent share.
The project involves Technical designing (structure service + infrastructure), coordination and construction of rehabilitation/ sale/ commercial / amenities /any other structure along with construction of Habitable temporary transit camps, work of on-site, off-site infrastructure and landscaping & performing various coordination activities and obtaining all relevant permissions & approvals from all concerned authorities on lump-sum basis for Redevelopment of project of BDD Chawls on CTS No. 1539 & 1540 at Lower Parel Division at Worli, Mumbai- 400 018.
The order is for a redevelopment of existing BDD (Bombay Development Department) Residential and Commercial Societies (Chawls), one of the oldest British-era developments in Mumbai.
Located in Worli, the project will involve redevelopment of 26 million square feet of area. It is set to employ over 10,000 employees and the construction will be carried out in phases over a period of eight years.
More than 10,000 families associated with this redevelopment will benefit by moving into a new home, will have access to improved quality of life and the region will witness a large-scale change in the social upliftment of the neighborhood.
BDD was set up in 1920 by the then Governor, who designed a massive housing and development scheme on 22 hectares in Worli. The construction of 121 chawl buildings, each with 80 rooms, was completed between 1921 and 1925 to solve the massive housing shortage during that time. Currently, around 9,700 families residing in the project precincts.
Since the housing colonies are now more than 90 years old and have completed their life cycle, the Maharashtra government decided on their redevelopment.
It will be developed in five phases over eight years. The project comprises around 98 rehabilitation and sale buildings having 22-66 floors and involves construction across 26 million square feet.
The project also requires the construction of 720 units in a transit camp. Around 10,000 employment opportunities will be generated through this project.
Source: thehindubusinessline, uniindia