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- Adani Group got the responsibility of redevelopment of Motilal Nagar in Goregaon.
- Investment of more than Rs 1 lakh crore possible in this mega project.
- 3,702 residents will get free flats of 1,600 sqft.
- Rehabilitation work is expected to be completed in approximately 7 years.
Motilal Nagar Redevelopment Project: Now another name has been added to the list of big redevelopment projects in Mumbai. Adani Group of Asia’s richest man Gautam Adani has got the responsibility of redevelopment of Motilal Nagar located in Goregaon (West). This area is spread over about 143 acres.
According to the master plan of Maharashtra Housing and Area Development Authority (MHADA), more than Rs 1 lakh crore can be invested in this mega project. It is being considered as one of the big redevelopment projects of Mumbai. Due to which many families are going to get new homes.
Work will be done on this model
Adani Realty made successful bid for Motilal Nagar Redevelopment Project. According to the information, this work will be done under the Construction and Development Agency model. This project is going to include both rehabilitation and free-sale components. It is expected that under this project the area will be developed on a large scale.
Preparation of rehabilitation plan
Under this project, rehabilitation of a large number of people has been planned. According to the master plan, 3,702 eligible residents will be given free flats with carpet area of 1,600 square feet. Whereas 328 business units will be given space of about 987 square feet.
Apart from this, there is a plan to settle about 1,600 slum residents in 300 square feet houses. Through this entire project, MHADA will also get a large number of stock of housing units. Which will help in providing housing in future.
Rehabilitation will be completed in 7 years
According to MHADA CEO and Vice-President Sanjeev Jaiswal, an investment of up to Rs 1 lakh crore can be made on this entire project. At the same time, the work related to rehabilitation is expected to be completed within the next seven years. A large number of people are going to get relief from this project.
Gautam Adani Asia’s richest man
Gautam Adani has achieved the title of Asia’s richest person, leaving behind Mukesh Ambani. According to Bloomberg Billionaires Index, Adani’s total wealth is estimated at around $92.6 billion. Whereas Ambani’s wealth is 90.8 billion dollars. With this increase, Adani has now become the richest person in Asia.
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