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Journalism of Courage
MUMBAI, JUNE 3: The state government has finally found use for the controversial piece of prime land at Bandra Reclamation that saw the transfer of two chief executive officers of Maharshtra Housing Area and Development Authority MHADA recently. The MHADA property, worth Rs 300 crore, will house a convention centre. Ironically, this proposal may also turn controversial as another arm of the state government 8211; Mumbai Metropolitan Regional Development Authority MMRDA 8211; has plans for a similar convention centre less than a kilometre away in the Bandra-Kurla complex.
The state government has directed MHADA to sign a Memorandum of Understanding MoU with the Housing and Urban Development Corporation HUDCO for the convention centre at Bandra Reclamation. Early estimates are that the centre could cost Rs 500 crore; with HUDCO and the government to have a 50:50 equity, it is unclear how the cash-strapped MHADA will raise the required resources. MHADA Vice-President Gorakh Megh confirmed that an MoU will besigned but refused to elaborate since discussions are still at a preliminary stage.
However, the government8217;s new proposal may set off fireworks too as senior MHADA officials doubt the viability of a convention centre on that plot. They are pressing for a change in the landuse itself 8211; from convention centre to commercial complex so that the land could be developed and hawked inthe real estate market hopefully for a decent profit. It may just re-arrange the springboard for the government to allow private developers to use the land in future.
A convention centre may not be as viable as a commercial complex, that too when MMRDA holds a blueprint for another in the same area, they fear, whereas a commercial complex could generate up to Rs 300 crore a year for MHADA. Indications are that the complex might eventually be a combination of a convention centre and a commercial complex.
Housing Secretary Govind Swaroop also admitted that a convention centre would be built on the MHADA plot. And HUDCO officials were confident that a convention centre, on the lines of the Habitat Centre in New Delhi, will be constructed on the 7.5 acre plot. They are confident that the MoU can be signed by end June after which a HUDCO team will prepare a feasibility report.
