Advertisement
Mumbai's slum rehabilitation push has drawn interest from around 50 leading developers following the BMC's call for Expressions of Interest (EOI) for 64 redevelopment projects on municipal lands under DCPR 2034 Regulation 33(10). Major players like Adani Realty, Rustomjee, Wadhwa Group, and JSW Realty participated in a pre-bid meeting to discuss BMC's 32 redevelopment conditions. Key concerns included unclear data on eligible slum households and rigid land reservations. BMC assured developers that these issues would be reviewed. With incentives such as up to 4 FSI, fungible FSI, and TDRs, the initiative reflects growing industry confidence and marks a major step in Mumbai's urban renewal efforts.
Mumbai's ambitious slum rehabilitation initiative has recently attracted substantial interest from approximately 50 prominent developers, signaling a significant shift in the city's real estate landscape. This surge in interest follows the Brihanmumbai Municipal Corporation's (BMC) invitation for Expressions of Interest (EOI) concerning 64 slum redevelopment projects situated on municipal lands across the city. The projects are being offered under Regulation 33(10) of the Development Control and Promotion Regulations (DCPR) 2034. Advertisement
Among the developers expressing interest are industry giants such as Adani Realty, Wadhwa Group, Rustomjee, Dosti Realty, JSW Realty, DHS Group, Jalaram Developers, Nilyog Developers, Asha Developers, and Chandak Realty. These developers participated in a pre-bid meeting where they discussed the 32 conditions outlined by the BMC for slum rehabilitation, including provisions and incentives offered during redevelopment.
A major concern raised by developers during the meeting was the uncertainty regarding the number of eligible slum households. Developers emphasized the necessity for accurate surveys to ascertain the exact count of slum dwellers to ensure proper planning and resource allocation. Additionally, developers requested flexibility in land reservations, as existing reservations on land sometimes reduce the usable area for redevelopment. BMC officials assured that all challenges pointed out by the developers would be reviewed, and suitable steps would be taken to address them.
The BMC's initiative offers several incentives to developers, including a Floor Space Index (FSI) of up to 4, fungible FSI, and Transfer of Development Rights (TDR). These incentives are designed to make slum rehabilitation projects more attractive to developers by enhancing the potential for profitable free-sale components. The administration has also indicated that if necessary, certain policy relaxations may be considered to ensure the timely execution of these projects.
This development marks a significant step forward in Mumbai's efforts to address its slum rehabilitation challenges. The active participation of major developers indicates a growing confidence in the viability and profitability of slum redevelopment projects. With the BMC's commitment to addressing developer concerns and providing necessary incentives, these projects are poised to contribute substantially to the city's urban transformation.
5th Jun, 2025
25th May, 2023
11th May, 2023
27th Apr, 2023
Advertisement
Facebook
Whatsapp
