Adani Properties highest bidder for MHADA redevelopment projects in Worli, Bandra
For the third MHADA layout up for redevelopment in SVP Nagar, Andheri West, a joint-venture consortium led by Hanura Realty, a subsidiary of JSW Steel, won the bid.
Following wins in Dharavi and Goregaon, Adani Properties has emerged as the highest bidder for the cluster redevelopment of premium MHADA layouts at Bandra Reclamation and Worli (File photo for representative use). After Dharavi and Goregaon’s Motilal Nagar, Adani Properties has emerged as the highest bidder for the redevelopment of two more prime Maharashtra Housing and Area Development Authority (MHADA) layouts in Mumbai: a 34.33-acre plot at Adarsh Nagar in Worli and a massive 98.27-acre area at Bandra Reclamation.
For the third MHADA layout up for redevelopment at SVP Nagar in Andheri West, over an area of 73.89 acres, a joint venture consortium led by Hanura Realty, a subsidiary of JSW Steel, won the bid.
The bidders’ approval to carry out the redevelopment of the plots awaits clearance from the high-powered committee formed by the Maharashtra government, comprising Additional Chief Secretary of Housing Aseem Kumar Gupta, MHADA CEO Sanjeev Jaiswal, and Brihanmumbai Corporation (BMC) officials, among others. Officials from MHADA said a request for a meeting has been made.
MHADA has been seeking to redevelop old MHADA layout plots, which have seen little to no development over the years, freeing up land in the city while at it. At Motilal Nagar, the Adani-led redevelopment is at the cusp of beginning. The next plots likely to be put up for redevelopment are Ramkrishna Nagar in Khar and Old MHB Colony in Borivali.
Lodha Developers, and JSW Realty and Infrastructure were in the fray for the redevelopment of the plot in Worli and Bandra Reclamation too. At SVP Nagar in Andheri West, the highest bidder is a consortium of Hanura Realty, Chandak Realtors, Premsagar Infra Realty, and Vantier Realty.
Approximately 200 acres of MHADA plots are being redeveloped, along with an additional 143 acres in Motilal Nagar, Goregaon. Residents of these plots will be rehoused within the same areas.
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