The Mumbai Metropolitan Region Development Authority (MMRDA) is set to redevelop 19 buildings near the Elphinstone Bridge, aiming to modernize the area and improve living conditions for the residents. This initiative is part of a broader urban renewal plan to address the growing real estate challenges in Mumbai.
MumbaiMmrdaElphinstone BridgeUrban RenewalRedevelopmentReal Estate MumbaiApr 28, 2025
The MMRDA redevelopment project near the Elphinstone Bridge involves the modernization of 19 buildings in the area to improve infrastructure and living conditions for residents.
The project is necessary to address the growing challenges of housing affordability, traffic congestion, and inadequate public amenities in the area around the Elphinstone Bridge.
The MMRDA is providing a comprehensive compensation and rehabilitation package to support the current residents, including relocation assistance and improved living conditions.
The new buildings will incorporate features such as rainwater harvesting, solar panels, and energy-efficient appliances to meet modern environmental standards.
The redevelopment project is expected to take several years to complete, with the initial phases already underway. It will be executed in phases to ensure a smooth transition.
The real estate sector is hoping for a boost in the upcoming budget with the expansion of tax benefits under Section 80EEA to promote affordable housing.
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