Mumbai-based property developer RNA has bagged a Rs 1,000-crore project to redevelop Subhash Nagar Colony, one of the oldest and biggest settlements in Chembur. The project involves reconstruction of 57 buildings built by the Maharashtra Housing and Development Authority in 1950. The colony is spread over 40 acres and each building has 36 flats.
On completion of the project, tenants will be rehoused in flats admeasuring 320 sq ft, with 65 sq ft of open space. RNA has already begun work on the project and has given transit accommodation to tenants in five buildings.
Redevelopment of the citys old buildings is a big business opportunity as the government is encouraging realtors with tax incentives and higher floor space index. The city has some 16,000 buildings that qualify for redevelopment.
More : economictimes.indiatimes.com
Send an E-Mail for mumbai Property Enquiry!
Related News from Mumbai
Chembur: Mumbai Properties / Real Estate and Services
Chembur: Mumbai Properties / Real Estate and Services Mumbai Properties is involved in wide spectra of services in real estate and property dealing related services in Chembur and assure you to provide the best of all at competitive prices. We provide services such as sale and purchase and renting of residential and commercial properties in Chembur of all categories. Property Services in Chembur by Mumbai Properties: Real Estate Consultancy for properties in Chembur Sell/Purchase/Lease of Farmland in Chembur Sell/Purchase/Lease of Residential Property in Chembur Sell/Purchase/Lease of Commercial Property in Chembur Sell/Purchase/Lease of BPO/Call Centre in Chembur Sell/Purchase/Lease of Service Apartments in Chembur Sell/Purchase/Lease of Plots in Government
Major fire at Mankhurd in northeast Mumbai
MUMBAI: A major fire broke out in the hutment colony at suburban Mankhurd in northeast Mumbai, according to fire brigade sources. The fire broke out on Tuesday afternoon at the TMCC Nagar hutment colony and eight fire tenders were rushed to extinguish the fire, the sources said. However, no one is injured in the fire, they said. Municipal Corporation of greater Mumbai was carrying demolition of illegal structures in the colony when the fire broke out, police said.
Dengue-threat looms large over Mumbai
Outbreak of mosquito-borne disease Dengue is looming large over Mumbai, as the city has recorded a spurt in the number of dengue cases ahead of the monsoon season. Hospitals in the suburbs of the metropolis have reported a large number of fever cases; many of them diagnosed dengue hemorrhagic fever. There is an alarming rise in the number of fever cases suspected to be dengue in Mira-Bhayandar municipality area of Mumbai, blaming on poor sanitation. More : dailyindia.com
Mumbai slum a goldmine for developers
In Mumbai, a small piece of property at the Bharat Nagar Slum colony can cost upto Rs 1.5 crore. This exorbitant price tag comes only because the colony is located in Mumbais business district Bandra Kurla Complex, which has now become one of the citys most desired commercial spaces. This may not be posh Malabar Hil or pricey South Mumbai. But that does not make this a worthless piece of land. More : ndtv.com
Mumbai slum a goldmine for the developers
In Mumbai, a small piece of property at the Bharat Nagar Slum colony can cost upto Rs 1.5 crore. This exorbitant price tag comes only because the colony is located in Mumbais business district Bandra Kurla Complex, which has now become one of the citys most desired commercial spaces. This may not be posh Malabar Hil or pricey South Mumbai. But that does not make this a worthless piece of land. More : ndtv.com