Mhada head office set to be rebuilt at ₹850cr
MUMBAI:THE Maharashtra Housing and Area Development Authority (Mhada) is planning to rebuild its Bandra (East) headquarters at an estimated cost of ₹850 crore.
It will convert its six-storey office, spread over 20,000 square metres, behind the Bandra Kurla Complex intro a 16-storey twin tower complex.
The new premises will consist of Mhada headquarters and a commercial complex which will be leased out to generate revenue.
Mhada president Uday Samant said, “The current structure is in bad shape. We are spending crores to maintain this building and hence, we have decided to redevelop this property. Two years ago, ₹6 crore was spent on repairs and now another ₹14 crores will be spent. The structural audit report says the building won’t last more than 10-15 years and so we have decided to construct a new one.”
He said the project is expected to complete by 2022 and tenders will be floated next month. When asked why Mhada plans to spend ₹850 crore to rebuild its headquarters, Samant said, “We will not spend the entire amount in one go. Since the premise is located in a prime area, we will lease out the commercial spaces which will fetch us revenue.”
Housing activists have criticised Mhada over the issue. “Instead of concentrating on building low-cost houses, Mhada is busy implementing its grandiose plans which are of no use to citizens,” said housing activist Advocate Vinod Sampat.
A V Shenoy of the Mumbai Vikas Samiti said, “Mhada should divert this amount to construct an affordable housing project as this was the objective for which Mhada was founded,” said Shenoy.