L&T to redevelop Naigaon chawl
Real Estate

L&T to redevelop Naigaon chawl

Construction major L&T is ready to take up the Naigaon BBD chawl redevelopment project in central Mumbai, according to Maharashtra Housing and Area Development Authority (MHADA). Earlier, L&T had sought withdrawal from the project, as residents were unwilling to move to transit houses, despite several efforts.

Mhase said that they were trying to convince L&T to initiate the process after they received the disinterested letter by resolving the issues. Now since they have changed their decision, the work can be continued.

The state government has appointed the MHADA as a nodal agency for the redevelopment of the chawls located at the following regions, Naigaon, Worli and NM Joshi except at Sewri, as that is owned by the Mumbai Port Trust (MbPT).

The total cost of the three projects is estimated to be around Rs 170 billion as per the plan. Out of which L&T is allotted Rs 28 billion.

Image Source

Construction major L&T is ready to take up the Naigaon BBD chawl redevelopment project in central Mumbai, according to Maharashtra Housing and Area Development Authority (MHADA). Earlier, L&T had sought withdrawal from the project, as residents were unwilling to move to transit houses, despite several efforts. Mhase said that they were trying to convince L&T to initiate the process after they received the disinterested letter by resolving the issues. Now since they have changed their decision, the work can be continued. The state government has appointed the MHADA as a nodal agency for the redevelopment of the chawls located at the following regions, Naigaon, Worli and NM Joshi except at Sewri, as that is owned by the Mumbai Port Trust (MbPT). The total cost of the three projects is estimated to be around Rs 170 billion as per the plan. Out of which L&T is allotted Rs 28 billion. Image Source

Next Story
Real Estate

Pecan Realty Completes Rs 1.5 Billion Transactions

Pecan Realty has recently completed four institutional transactions worth over Rs 1.5 billion over the past two years, strengthening its position as an execution-led real estate platform. The deals include resolution-led acquisitions, structured finance transactions and capital partnerships across its development portfolio.The transactions covered acquisitions through the National Company Law Tribunal process and helped provide repayment or exits to both private and public sector lenders. The company said the deals demonstrate its ability to resolve complex project situations, work with instit..

Next Story
Real Estate

SNN Estates Expands North Bengaluru Housing Project

SNN Estates has announced an expansion of its SNN Estates Felicity residential project in North Bengaluru following strong buyer demand, with 75 per cent of the first-phase inventory sold within three days of launch.The developer will add 76 apartments in the new phase, taking the project's estimated revenue potential to around Rs 1,000 crore upon completion of Phase 2.Spread across 6.5 acres in Rachenahalli, near Manyata Tech Park, the project comprises 604 apartments in 1.5, 2, 2.5, 3 and 4 BHK configurations. The development includes a 50,000-sq-ft clubhouse with amenities such as sports co..

Next Story
Infrastructure Urban

SCG Drives ASEAN Industrial Transformation Strategy

SCG is strengthening its focus on ASEAN as a key growth region by advancing industrial transformation, enhancing competitiveness and building resilient regional value chains. Thammasak Sethaudom, President and Chief Executive Officer, SCG, highlighted the need for industries to continuously develop capabilities, strengthen resilience and deepen regional cooperation to achieve sustainable long-term growth.SCG views ASEAN as an important growth engine alongside China, supported by favourable demographics, trade connectivity and investment flows. With ASEAN’s GDP projected to grow by around 4.7..

Advertisement

Subscribe to Our Newsletter

Get daily newsletters around different themes from Construction world.

STAY CONNECTED

Advertisement

Advertisement

Advertisement