New Delhi, July 9: In a third major Mumbai project, the Adani Group is now on board the ambitious Motilal Nagar redevelopment in Goregaon (West). On Tuesday, the Maharashtra Housing and Area Development Authority (MHADA) divulged that it had signed an agreement to partner with the nation’s leading infrastructure and development company for the project in question.The state authority further revealed that the Motilal Nagar 1, 2 and 3 colonies project – estimated to cost around Rs 36,000 crore – will be the largest redevelopment project in India that will be implemented through the construction and development model. The resulting Motilal rehabilitation will span an area of 5.84 lakh square metres, ultimately aiding 3,372 eligible residential units under MHADA, 328 eligible commercial units, and 1,600 eligible slum tenements per the 1971 Slum Act.
“The long-cherished dream of the residents of Motilal Nagar is now taking a concrete shape. We aim to make this the finest redevelopment project in the country, ensuring transparency, quality, and social commitment through MHADA’s implementation,” said Sanjeev Jaiswal, VP and CEO of MHADA.
He added, “This dream of redevelopment will no longer remain on paper; it is becoming a reality. Through this project, MHADA is taking a crucial step toward providing residents with modern, secure, and well-equipped homes.”
MHADA’s statement further noted, “A key highlight of this project is the free rehabilitation of residents in ultra-modern 1,600 sq. ft. apartments. Through this redevelopment, MHADA will receive 397,100 lakh sq m of constructed area from the developer. This will significantly boost MHADA’s housing stock in the near future.”