M’rashtra speeds up Rs. 4,000cr realty project

    Bhendi Bazaar Redevelopment Project
    The first phase of the redevelopment of the slum clusters 1 and 3 popularly known as the Bhendi Bazaar Redevelopment Project, which has been coined as the Smart City project in this densely-populated locality of south Mumbai, is currently in full swing at a total investment of Rs. 4,000cr. The project, which is being developed by the Saifee Burhani Upliftment Trust (SBUT), covers 16.5 acres of land with more than 250 decrepit buildings, 3,200 families, and 1,250 shops. In the next phase about 250 dilapidated buildings in Bhendi Bazaar will be replaced with 17 new towers with wide roads, modern infrastructure, more open spaces, and highly visible commercial areas. Of these, two rehab towers of 30-storey each, whose construction is currently underway, will house 600 families and 120 businesses. In all, 13 towers will rehabilitate residential tenants and businesses, while four are proposed for free sale. About 450 of the total 1,250 commercial units have been vacated. The project is closely monitored by the state Chief Minister whereby of the nine self-sustained sub-clusters, construction on sub-clusters 1 and 3 has already started and work on other sub-clusters will start in phases very shortly.
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