The Maharashtra government plans to redevelop 21 acres of prime land at Cuffe Parade at South Mumbai known as the fisherman’s colony or the Machchimar Nagar, which had gained notoriety after 10 Pakistani terrorists had landed here in 2008.
Speaking at The Real Estate Forum 2022, the honourable Minister for Housing, Government of Maharashtra stated that the colony is spread across 21 acres of land. “Out of these 15 acres are open spaces. The government intends to involve the slum rehabilitation authority (SRA) which will take care of the process and then hand it over to someone with a vision to develop it further,” he said.
Shri Awhad stated that there has been a substantial growth in the amount of premiums collected last year as compared to the last 10 years.
“The amount of premium collected by MHADA in nearly ten years that is from the year 2011 to 2021 was around Rs. 1902 crore. However, in the year 2021-2022, in span of just one year we have collected around Rs 1873 crore in premium collection,” the honourable Housing Minister stated.
Speaking at the function, Shri Awhad appreciated the efforts taken by the developers in beautifying the financial capital. “The state’s development is linked with its housing industry. The development of Mumbai with no open land available is possible only through redevelopment of the existing spaces. This is helping the society at large,” he said.
He added that the city of Mumbai with an increasing population can’t have a future if the developers don’t participate in its development.
The honourable Housing Minister also explained that the state government has taken the responsibility of introducing complete transparency in all the housing transactions.
