Adani Group Ties Up With MHADA For 'Largest Redevelopment Project' In Mumbai's Motilal Nagar
The redevelopment project of MHADA's Motilal Nagar colonies in Mumbai's Goregaon (West) has taken a step forward with the signing of an agreement between the Maharashtra Housing and Area Development Authority (MHADA) and the Adani Group. This collaboration appoints the Adani Group as the Construction and Development (C&D) agency for the project.
A key highlight of the project is the free rehabilitation of residents into ultra-modern 1,600 sq. ft. apartments. This redevelopment, spread over 142 acres, is claimed to be the "largest of its kind in India". MHADA will receive 397,100 sq. m. of constructed area from the developer, significantly boosting its housing stock.
The agreement signing ceremony was held at MHADA headquarters, attended by Sanjeev Jaiswal (IAS), Vice President and CEO of MHADA, and Pranav Adani, Director of Adani Properties Pvt. Ltd.
Motilal Nagar 1, 2, and 3 currently comprise 3,700 tenements, with rehabilitation to be carried out over approximately 584,100 sq. m. Non-resident tenants will also be provided with 987 sq. m. of commercial space. The construction of the rehabilitation units is expected to be completed within seven years.
The redevelopment is based on the “15-minute city” concept, ensuring that offices, public transport, metro stations, parks, entertainment hubs, schools, and hospitals are all accessible within 15 minutes from the residences. A five-acre central park will be a key feature of the project, with priority given to resident rehabilitation and excellent traffic and mobility planning.
Disclaimer: NDTV Profit is a subsidiary of AMG Media Networks Limited, an Adani Group Company.
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