L&T revisits ₹2,900-cr redevelopment project in Mumbai

Larsen & Toubro (L&T) has once again agreed to take up the Naigaum BDD Chawl redevelopment project involving an investment of ₹2,900 crore. The company withdrew its termination notice submitted to the chief officer, Mumbai Board, Yogesh Mhase and agreed to resume the construction work again. Housing minister Jitendra Awhad said that he had been informed by the housing secretary that L&T had decided to unconditionally take up the project again. Mumbai city guardian minister Aslam Shaikh said that it was an important decision and at a time when the Worli and N M Joshi Marg BDD Chawl redevelopment project is moving ahead, it would have been unfortunate for this important project in central Mumbai to remain stalled. L&T bagged the Naigaum project in 2017 and was the first to build a 500 sqft sample flat but the project got entangled in a political stalemate, which resulted in stalling of the project.