Syedna Mohammed Burhanuddin, the spiritual head of the Dawoodi Bohra community, is planning to give a complete makeover to Bhendi Bazaar at an investment of Rs 1,500 crore.
The religious trust has submitted a proposal in this regard to the Maharashtra Government under the recently introduced cluster redevelopment policy, popularly known as 33(9). The scheme applies to dilapidated cessed properties as well as BMC and state government buildings in the island city. It encourages builders to take up a minimum area of 4,000 sq mtrs and offers a higher-than-standard floor space index (FSI) of four.
The makeover plan involves redeveloping 270 buildings and 2,000 commercial establishments spread over 18 acre. Over 25,000 people are expected to get new houses after the redevelopment.
Source : ProjectsToday
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