MHADA signs pact with Adani Group for Motilal Nagar colonies in Goregaon

The redevelopment of Motilal Nagar colonies in Goregaon (West) has officially taken off with the Maharashtra Housing and Area Development Authority (MHADA) signing an agreement with the Adani Group. The Adani Group has been entrusted as the Construction and Development (C&D) agency to execute the project. The MoU was signed on Monday at the MHADA headquarters in the presence of MHADA vice president and CEO Sanjeev Jaiswal and director of Adani Properties Pvt Ltd Pranav Adani. A presentation of the project plan was also delivered to MHADA officials during the event by the Adani Group. “The long-cherished dream of the residents of Motilal Nagar is now taking a concrete shape. We aim to make this the finest redevelopment project in the country, ensuring transparency, quality, and social commitment through MHADA’s implementation,” said Jaiswal. Story continues below this ad The redevelopment includes Motilal Nagar 1, 2 and 3, which are located over around 142 acres. The scheme is going to rehabilitate about 3,700 tenements and is likely to be executed over a total area of 5,84,100 square metres. According to the agreement, the eligible dwellers will be rehabilitated in 1,600 sq ft flats. Apart from the dwelling units, nearly 987 sq m of commercial space will be provided for non-residential tenants. As part of the project benefits, the developer will hand over 3,97,100 sq m of developed area to MHADA, adding to the housing stock of MHADA. According to the officials, the rehabilitation is scheduled to be completed in seven years. The State Government has notified the project as a Special Project and given MHADA permission to implement it through a C&D model through their Mumbai Housing and Area Development Board. The Bombay High Court had also sanctioned the redevelopment under this model. In accordance with the direction of the court, Mumbai Board of MHADA called for bids and the Adani Group was chosen as the implementing agency. The redevelopment scheme is being undertaken by the Mumbai Housing and Area Development Board. The planning is based on the concept of “15 minute city,” with schools, hospitals, parks, public transport and offices to be within a walking distance from the residences. There will also be a five-acre central park as part of the master plan. Story continues below this ad “Through this project, MHADA is taking a crucial step towards providing residents with modern, secure, and well equipped homes,” Jaiswal said. Adani Realty Group, which is involved in the Dharavi slum redevelopment project in Mumbai, had placed the highest bid of Rs 36,000 crore for the redevelopment of Motilal Nagar. The bids were opened in March this year.