The Mumbai Metropolitan Region Development Authority (MMRDA) has invited construction bids for 5,623 tenements as part of Phase I of the Ramabai Ambedkar Nagar and Kamraj Nagar slum redevelopment project, putting its firstever Slum Rehabilitation Authority (SRA) scheme firmly on track.
The Rs 8,498 crore project aims to transform a 31.83-hectare sprawl in Ghatkopar's Ramabai Ambedkar Nagar and Kamraj Nagar into a planned housing cluster with over 17,000 homes, civic amenities, and a freeway link connecting to Thane. Phase I covers 6.95 hectares and will feature 11 residential towers—up to 70 metres tall—built over a 36-month deadline. This urban renewal marks MMRDA's first independent foray into slum rehabilitation.
An MMRDA official said, "The 5,623 tenements will come with 300 sq ft carpet area units, built across towers with basements for parking, commercial zones at stilt level, and 22 residential floors above."
All towers will be equipped with eight elevators, including stretcher lifts. Amenities like anganwadis, libraries, youth centres, and fitness facilities will be included as per DCPR 2034.
MMRDA officials said the project will be executed with a mix of funding—Rs 3,916 crore through institutional loans and 39% via internal revenue—ensuring both transparency and fiscal discipline.
MMRDA estimates that it will earn Rs 1,073 crore from the sale component of residential tenements if they are built by the development agency. However, it will be able to earn Rs 2,918 crore if the sale component is sold to a developer who will then build and sell his housing stock in the market. The deal will also be financially lucrative for the development agency, which is looking at various options to shore up revenues.
The authority anticipates a three-year timeline to complete the project from the day the land is transferred by the SRA.
