MUMBAI: Mumbai Metropolitan Region Development Authority (MMRDA) will soon appoint architectural and project management consultant (PMC) for redevelopment of Rama nagar slum pocket on Eastern Express Highway at Ghatkopar.
MMRDA has already floated bids to appoint these consultants for the project which will be jointly executed by Slum Rehabilitation Authority (SRA).
SRA will conduct a survey of the slum dwellers and It will also be responsible for handing over vacant possession of the land to MMRDA.
Ramabai nagar is spread across 33.15 Hectares of land and has approximately 16575 slum tenements.
Under the project, these slum dwellers will be provided rehabilitation while MMRDA will get 5000 tenements to house project affected people displaced by various works underway in Mumbai.
A MMRDA official sad, “Instead of constructing sale component, if rights of sale component are auctioned in open market, MMRDA will get profit. Moreover, free of cost land will be available for Eastern Freeway extension from Chheda Nagar to Thane project.”
This marks the first time that MMRDA will undertake slum redevelopment. Previously, it had implemented a rental housing project in Mumbai Metropolitan Region (MMR) by granting a high floor space index (FSI) to builders, with the housing stock then allocated to project-affected people (PAPs).
The highlights of the scheme are as below
MMRDA has already floated bids to appoint these consultants for the project which will be jointly executed by Slum Rehabilitation Authority (SRA).
SRA will conduct a survey of the slum dwellers and It will also be responsible for handing over vacant possession of the land to MMRDA.
Ramabai nagar is spread across 33.15 Hectares of land and has approximately 16575 slum tenements.
Under the project, these slum dwellers will be provided rehabilitation while MMRDA will get 5000 tenements to house project affected people displaced by various works underway in Mumbai.
A MMRDA official sad, “Instead of constructing sale component, if rights of sale component are auctioned in open market, MMRDA will get profit. Moreover, free of cost land will be available for Eastern Freeway extension from Chheda Nagar to Thane project.”
This marks the first time that MMRDA will undertake slum redevelopment. Previously, it had implemented a rental housing project in Mumbai Metropolitan Region (MMR) by granting a high floor space index (FSI) to builders, with the housing stock then allocated to project-affected people (PAPs).
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- Plot Area -33.15 Ha
- Slum tenements – Approx. 16575,
- CTS No. 194(pt) and 195(pt)
Benefits from implementation of Slum Rehabilitation Scheme:
- Rehab component for approx. 16,575 slum dwellers
- Approximately 5,000 PAPs tenements to MMRDA
- Instead of constructing sale component, if rights of sale component are auctioned in open market, MMRDA will get profit.
- Free of cost land will be available for Eastern Freeway extension from Chheda Nagar to Thane project.
- Further, the Joint Venture Agreement is executed between MMRDA and SRA on 27/02/2024.
Appointment of Architectural and Project Management Consultant agency for the said Slum Rehabilitation Scheme is in process.
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MUMBAI: Investment firm 360 One Asset Management has acquired less than 20% stake in Anarock in a deal that values the six-year-old real estate consultancy firm at Rs 1,000 crore. The investment comes as the realty sector sets to get big this year.
Founders Anuj Puri and Rohin Shah own over 80% of Anarock, which started with a focus on residential services, and has expanded into commercial real estate services as well. It also offers investment banking, research & valuations, app-based flexible workspaces (had acquired myHQ) and society management agency (took over Anacity) services.
360 One has invested Rs 200 crore for a minority interest in Anarock, marking its first investment in the real estate consultancy segment. The $8-billion fund, however, has exposure in the broader realty sector. In June last year, it had invested in Neoliv — a residential platform founded by former Godrej Properties MD Mohit Malhotra.
While the Indian real estate consultancy sector continues to remain fragmented, it has increasingly been moving towards formalisation, said Anarock chairman Puri. This, he described, has been because of regulations mandating transparency & accountability, technological advancements enabling digital listings, virtual tours & online transactions, and the entry of international firms encouraging traditional consultants to improve their service standards.
Before founding Anarock in 2017, both Puri and Shah had a stint at Jones Lang LaSalle (JLL) — one of the world’s leading property consultants. While Puri headed the local unit of JLL in 2007, Shah started his career with the company in 1986.
Eight years later, Shah established Chesterton Meghraj, where Puri was the MD. This company subsequently became Trammell Crow Meghraj, in which US-based Trammell Crow and Puri held a stake. In 2007, Chicago-based JLL combined its India business with Trammell Crow Meghraj and appointed Puri as head of the merged entity. The deal saw Shah’s exit from the real estate advisory business.
Puri quit JLL a decade later in 2017 and along with Shah, bought the residential brokerage business — estimated to be around Rs 3,000 crore — from their former employer.
Today, Anarock is present in 19 cities in India and also has a play in the Middle East with over 2,200 employees.
Founders Anuj Puri and Rohin Shah own over 80% of Anarock, which started with a focus on residential services, and has expanded into commercial real estate services as well. It also offers investment banking, research & valuations, app-based flexible workspaces (had acquired myHQ) and society management agency (took over Anacity) services.
360 One has invested Rs 200 crore for a minority interest in Anarock, marking its first investment in the real estate consultancy segment. The $8-billion fund, however, has exposure in the broader realty sector. In June last year, it had invested in Neoliv — a residential platform founded by former Godrej Properties MD Mohit Malhotra.
While the Indian real estate consultancy sector continues to remain fragmented, it has increasingly been moving towards formalisation, said Anarock chairman Puri. This, he described, has been because of regulations mandating transparency & accountability, technological advancements enabling digital listings, virtual tours & online transactions, and the entry of international firms encouraging traditional consultants to improve their service standards.
Before founding Anarock in 2017, both Puri and Shah had a stint at Jones Lang LaSalle (JLL) — one of the world’s leading property consultants. While Puri headed the local unit of JLL in 2007, Shah started his career with the company in 1986.
Eight years later, Shah established Chesterton Meghraj, where Puri was the MD. This company subsequently became Trammell Crow Meghraj, in which US-based Trammell Crow and Puri held a stake. In 2007, Chicago-based JLL combined its India business with Trammell Crow Meghraj and appointed Puri as head of the merged entity. The deal saw Shah’s exit from the real estate advisory business.
Puri quit JLL a decade later in 2017 and along with Shah, bought the residential brokerage business — estimated to be around Rs 3,000 crore — from their former employer.
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