18 buildings in Chembur colony go in for redevpt

216 Families To Get 810 Sq-Ft Flats

Mumbai: Residents of 18 of the 39 buildings at Sahakar Nagar 1 in Chembur have signed up with a builder to redevelop their properties. 

    Sahakar Nagar is a public housing colony built by the Maharashtra Housing and Area Development Authority (Mhada) in 1954 in Chembur's Shell Colony. This will be one of the biggest redevelopment projects this year. 
    About 216 residents in these 18 housing societies have awarded the development rights to Kamla Landmarc Property. However, a source said Godrej Properties was negotiating with both the developer and the societies to take over the project. In 2008, these societies had appointed Bombay Dyeing as the developer, but in 2010, cancelled the letter of award after the project did not make any headway. 
    The ground-plus-two-storey buildings have 400 sq ft tenements. According to the agreement,thedeveloper will provide an 810 sq ft (carpet) apartment to each family. Ashok Paranjpe of the legal firm, MDP & Partners, representing the societies, said an additional 180 sq ft could be given to each flat owner if Mhada permitted the extra space. Sahakar Nagar 1 is spread over 11 acres, but the 18 buildings occupy about half of it. Each family will also receive Rs 22.50 lakh, totalling around Rs 49 crore for the 216 members, said Paranjpe. They have also been offered Rs 20,000 a month as rent for three years till the time their new buildings are ready. The project will receive a floor space index (FSI) of 2.5. 
    Since it is a Mhada layout, the developer will give the housing authority 30 flats free of cost and those apartments will be used for public housing. The builder will use a portion of the land for commercialcum-residential purposes to be sold in the open market. 
In A Shell 
Area: 11 acre Place: Shell Colony, Chembur Built By: Mhada(1954) Total Buildings: 39 Buildings Going In For Redevpt: 18 Families In Redevpt Flats: 216 Builder: Kamla Landmarc Property FSI For The Project: 2.5 
    After redevelopment, each resident of the 18 buildings will be given Rs 22.50 lakh, besides a 810 sq-ft flat. An extra 180 sq ft may be added to the apartment area if Mhada gives the nod 
    Mhada will receive 30 flats free of cost that will be used for public housing