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MHADA NEW POLICY TO HURT BUILDER INTEREST IN DHARAVI REDEVELOPMENT PROJECT

dharavi-1It appears that the Maharashtra government’s Rs 9,350-crore Dharavi redevelopment project may upset the real estate sector. According to the revised bid documents, builders will not have an opportunity to build high-rises to house slum-dwellers. The fresh bid revised document puts a ceiling of G+7 (ground plus seven floors) on most buildings that will come up. Only in exceptional cases where the building has 25 metres or more of open space around it, the state will allow G+10 structures. The revised documents also lay emphasis on

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