MUMBAI: Kamathipura’s redevelopment may face fewer hurdles than Bhendi Bazaar’s, feel industry observers.
“Planning for such a large area is tedious. There’s a lot of data to be analysed. Besides, clearances have to come through. Since the Bhendi Bazaar proposal has been cleared, a lot of things have been streamlined. It is for such congested areas that cluster redevelopment is designed. All plots can be amalgamated,” said Sirish Sukhatme, former president, Practising Engineers, Architects and Town Planners Association (PEATA). “For Kamathipura, there is no civil aviation restriction, and so towers can be constructed. Also, the plots are outside the coastal regulation zone notification.”
Dr A Nakashe, the project management consultant for the Kamathipura plan, said it would take around three years for the first building to come up after appointing the developer and obtaining all clearances.
Sukhatme agrees with the estimated timeframe. As per the plan, only 2,000 tenants need to be shifted out initially to kick-start the project. “Around 1,000 tenants only use their tenement for business purposes. They already have alternate accommodation and are willing to take rent. Then, there are 500 labourers who too are willing to shift out for rent till the new flats are ready . This leaves 500 tenants, for whom we will have to find alternate accommodation with the rent they receive,” he said.
Nakashe said the entire rehab component with open spaces can be accommodated on 50% of the land. “There is a playground from where we propose to begin construction of the first set of rehab towers. Given the technology now, a building can be ready in a year. We then propose to move in residents of other buildings into the cluster of five buildings constructed. This will ensure that three-fourths of the land becomes free for construction. Once a section of the rehab component is ready , then work on the sale component begin simultaneously .”
Sukhatme said that given the infamy attached to Kamathipura, only cluster redevelopment can change its prospects. “If this is done, the area will command the same price as Walkeshwar and Tardeo. It gives an unrestricted view of the eastern seafront,” he said.
Pankaj Kapoor, MD of Liases Foras, a realty research firm, said cluster redevelopment is the need of the hour. “A lot of land in Mumbai is covered with low structures. If you see, 50% of arterial roads proposed in the 1991 Development Plan have not been laid largely because the ground is occupied. If cluster redevelopment occurs, it will open up land and help augment infrastructure, which will improve circulation. Even if density increases on account of higher floor space index, it will be better distributed.”
He said that since the initiative is from landlords, the probability of Kamathipura’s redevelopment is high. ” Also, the government has relaxed norms. The benefits, both for tenants and landlords, seem good.”
Credits ET Realty