NTC Mill Land in Mumbai Anticipated to Open for Re-Development
NTC has undertaken the redevelopment of the chawls as a first step, leading to anticipation that the remaining mill land will soon be sold in the open market. Of the 25 textile mills owned by the National Textile Corporation (NTC), the land of around nine in South and Central Mumbai is expected to be released for redevelopment in the near future. The nine mill lands measure approximately 150 acres, of which a very small portion—13.8 acres—is occupied by 11 chawls in which mill workers live. According to officials, NTC will open up the remaining 135 acres for residential and commercial exploitation after the chawl redevelopment is over. Of the 25 NTC mills, eight have already been sold or disposed of while five mills are still running. NTC has entered into joint ventures for four of them. There could be plans for commercial exploitation of these mills lands but only after the rehabilitation of mill workers. An official from NTC cited the DCR notification of 2006 which mandates the rehabilitation of tenants before or along with the commercial exploitation of the remaining land. After the rehabilitation of the existing occupants, the developer needs to share the remaining housing stock with Mhada and owner (in this case NTC) in the ratio of 1:0.6. The mill lands get a notional FSI of 4 to construct houses.
Tags : NTC redevelopment mill land National Textile Corporation rehabilitation