Revolutionary Slum Rehabilitation Project in Worli Offers 560sqft Homes to Eligible Residents

In a groundbreaking move, a developer has offered 560sqft residential units to eligible slumdwellers in Worli's Veer Jijamata Nagar SRA project, exceeding the standard 300sqft rehabilitation area.

Slum Rehabilitation AuthoritySraMumbaiValor Estate LtdDb RealtyWorliVeer Jijamata NagarReal Estate MumbaiAug 15, 2024

Revolutionary Slum Rehabilitation Project in Worli Offers 560sqft Homes to Eligible Residents
Real Estate Mumbai:Mumbai has witnessed a new trend in Slum Rehabilitation Authority (SRA) projects, with a developer offering 560sqft residential units to eligible slumdwellers in Worli's Veer Jijamata Nagar. This move is expected to set a new benchmark for SRA projects in the city.

The Veer Jijamata Nagar SRA society has 1,197 occupants, and Lokhandwala-DB Realty has offered them a choice between two options 300sqft of standard rehabilitation area, 105sqft of fungible floor space index (FSI), and 155sqft from the sale component, or 300sqft of rehabilitation area and the remaining 260sqft from the sale component as permanent alternative accommodation.

A spokesperson for Valor Estate Ltd, formerly known as DB Realty, stated that plans for the rehabilitation buildings, including the additional carpet area in the form of adjoining tenements, have been approved by SRA.

Officials believe that this move could lead to massive competition among developers to offer more area to slumdwellers. Even for Dharavi's redevelopment, the special purpose vehicle (SPV)—Dharavi Redevelopment Project Ltd—is giving eligible slumdwellers 350sqft flats.

The Valor Estate Ltd spokesperson emphasized that Veer Jijamata Nagar society is distinct from other slum areas, as it was a pitch colony where numerous existing tenements exceeded 300sqft. After its designation as a census slum, and in consideration of the prevailing conditions on the ground, it was deemed necessary to ensure that the residents receive adequate compensation for their participation in the scheme.

The spokesperson also mentioned that a portion of the sale FSI entitlement of the developer has been allocated to these residents, and 25% of the project land will be transferred to BMC for expansion of the STP.

Datta Narvankar, former Shiv Sena corporator from Worli, said that since the developer has offered the additional 260sqft from the sale component, slumdwellers have demanded that their sale agreements be registered right away. \

Frequently Asked Questions

What is the standard size of a slum rehabilitation unit in Mumbai?

The standard size of a slum rehabilitation unit in Mumbai is 300sqft.

What is the size of the residential units offered by the developer in Worli's Veer Jijamata Nagar SRA project?

The developer has offered 560sqft residential units to eligible slumdwellers in Worli's Veer Jijamata Nagar SRA project.

What is the significance of the additional 260sqft offered by the developer?

The additional 260sqft offered by the developer is a significant move, as it exceeds the standard rehabilitation area and provides more space to the slumdwellers.

What is the role of the Slum Rehabilitation Authority (SRA) in this project?

The SRA has approved the plans for the rehabilitation buildings, including the additional carpet area in the form of adjoining tenements.

What is the expected impact of this project on the slumdwellers?

The project is expected to provide permanent alternative accommodation to the slumdwellers, while also ensuring that they receive adequate compensation for their participation in the scheme.

Related News Articles

Keystone Realtors Raises Rs 800 Crore from Institutional Investors
Real Estate Mumbai

Keystone Realtors Raises Rs 800 Crore from Institutional Investors

Mumbai-based Keystone Realtors has raised Rs 800 crore by selling shares to institutional investors

May 28, 2024
Read Article
Kerala Police Hand Over Mami Missing Case to Crime Branch to Avoid CBI Probe
real estate news

Kerala Police Hand Over Mami Missing Case to Crime Branch to Avoid CBI Probe

The Kerala police have handed over the missing case of Mohammad Attur, a prominent real estate businessman, to the Crime Branch to prevent a CBI investigation.

September 8, 2024
Read Article
Home Sales in Noida and Greater Noida Increase by 6% in Q3 2024
real estate news

Home Sales in Noida and Greater Noida Increase by 6% in Q3 2024

The residential property market in Noida and Greater Noida witnessed a 6% surge in registrations during the July-September quarter, with a total of 8,128 units sold, according to real estate consultant Square Yards.

November 18, 2024
Read Article
Mumbai Real Estate Market Sees Significant Growth in 2024 with 1.41 Lakh Registrations
Real Estate Maharashtra

Mumbai Real Estate Market Sees Significant Growth in 2024 with 1.41 Lakh Registrations

Mumbai's real estate market is on track to register 1,41,302 property registrations in 2024, marking an 11% increase from the previous year. The market is showing resilience and a growing preference for premium and spacious homes.

January 2, 2025
Read Article
2025 Outlook: The Future of Commercial Real Estate in Tier-II and Tier-III Cities
Real Estate

2025 Outlook: The Future of Commercial Real Estate in Tier-II and Tier-III Cities

In 2025, we can expect a significant rise in commercial real estate activity in Tier-II and Tier-III cities across India, driven by factors such as low operating costs, ample space, skilled talent, and infrastructure development.

January 5, 2025
Read Article
Maharashtra's Transport Minister Pratap Sarnaik Invites CREDAI to Develop MSRTC Land
Real Estate

Maharashtra's Transport Minister Pratap Sarnaik Invites CREDAI to Develop MSRTC Land

The Maharashtra Transport Minister, Pratap Sarnaik, has called on the Confederation of Real Estate Developers’ Associations of India (CREDAI) to participate in the development of 1,360 hectares of land owned by the Maharashtra State Road Transport Corpora

January 19, 2025
Read Article