Real Estate Forum on Mhada Redevelopment

Latest Answer: According to the clause 33(9) of cluster redevelopment, cessed buildings with plot size more than an acre (4,000 sq.mts) in the island city of Mumbai are eligible for cluster redevelopment. These buildings must be built before September 1969 to be eligible for cluster redevelopment. An incentive FSI of 4 or additional 50-75% is available for redeveloping these buildings depending on the size of the plot. Under clause 33(7) of DCR, FSI for redeveloping cessed buildings varies from 2.5 of gross plot area to an additional incentive FSI of 70% depending on the category of the cessed building and number of plots being redeveloped.

Latest Answer: The state government had realized that the pace of redevelopment of cessed buildings was slow and it could be increased by involving landlords/tenants/private developers. With this in view, the Maharashtra government introduced a policy of giving floor space index (FSI) 2.00 for redevelopment of cessed buildings under Development Control Regulations. Amendments to the policy also gave an FSI up to 4 for redeveloping building clusters in a minimum area of one acre and rehabilitation of existing tenants/occupiers.

Latest Answer: Hey Anoop, GPL and RR builders have together taken up this project. Godrej's roles include conceptualization, design, sales, and marketing of the project.