Kannamwar Nagar at Vikroli is going to witness the invasion of the tower culture. MHADA is likely to begin reconstruction of existing dilapidated buildings, which might trigger an escalation in realty prices. Around 40 years back, MHADA had constructed 265 buildings in Kannamwar Nagar, Vikroli. These buildings had not seen any repair work since the time of its inception due to which they are in a deteriorating state today and repairing of these buildings is the need of the hour. With MHADA planning to reconstruct the buildings, the realty prices at Vikroli’s Kannamwar Nagar are expected to shoot up. While residents say that a reputed builder group should be given the job of reconstructing their homes, the other factor that has given a boost to real estate in the area is the construction of the bridge that will connect Kanjurmarg and Ghansoli reducing the distance to Navi Mumbai. A NMTV Bureau report.
June 23, 2016