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MCGM REVIVES MARKET REDVPT PLAN EVEN AS CHIEF MINISTER VILASRAO DESHMUKH VACATES STAY ON AUCTIONING OF PLOTS

cm-reprot-1After the Crawford Market redevelopment fiasco, in which the MCGM was accused of helping a builder make profits, the civic administration is once again planning to redevelop its markets in the city. Thirty-six markets will soon get a facelift after the MCGM resubmits its four-year-old market redevelopment proposal with minor changes. Activists are, however, worried that the BMC has not learnt anything from the Crawford Market episode and will again suggest certain developers at the cost of transparency. The MCGM claimed that it was “moving ahead” after receiving several redevelopment proposals for civic markets. Of the 103 MCGM markets, Pali market and the Kalina market have already been taken up for redevelopment. Realizing the commercial potential of the land on which these facilities are located, the civic body has decided to stake its claim to a share of the pie. So instead of a 100% incentive to the builder, the MCGM will take a small share of the profit – cash or kind from the commercial component. The commercial potential of a plot in Bandra is equivalent to that in the city. So the corporation will suffer a huge loss and MCGM have decided to go by the ready reckoner rate of a plot. Thus, for instance, the ratio of rehabilitation to incentive in Bandra will be 1:0.6, while in Andheri. The rest will go to the MCGM. Bureau Report – NMTV News

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