The over 60-year-old crumbling housing society will be demolished and redeveloped by Godrej.
Two hundred residents of Chembur’s Sahakar Nagar No 2, also known as Shell Colony, are looking forward to swank residential tower with all modern amenities.
The over 60-year-old crumbling housing society will be demolished and redeveloped by Godrej.
The residents, who live in six housing societies on a 4.9 acre plot, arrived at a consensus and gave the redevelopment contract to Godrej properties on Saturday. “The final memorandum of agreement will be made soon,” said Dr Vijay Sangole, advisor of the redevelopment project.
As per the agreement, all the 200 residents who live in their 300 sqft flats will get bigger houses. Under the redevelopment plan, there will be seven 15-storey buildings and each floor will have four flats.
For, Virmani Swaminathan, housing society secretary, it is a dream come true. “In 2005, our houses were submerged and two people lost their lives. We hope we will get big houses with full of modern amenities soon,” he said, adding that he hoped other housing society would follow suit.
The developer will have to complete work in three years and pay the rent to the 200 residents till the redevelopment work is completed.
“We are trying to make our society maintenance-free. We are middle-class and lower-middle class people who cannot afford to pay high maintenance. We have to take care of all these small things before going for the redevelopment. We are still in process of finalising the agreement. Once we reach a decent deal, we will make a memorandum of agreement,” said Swaminathan.
The proposed housing society will have rain water harvesting and water recycling. “Even during water scarcity, we will not face any problem,” he added. The housing society was planning to give Mahindra and Mahindra for redevelopment but the deal did not materialised.
RV Varadkar, 71, who has been staying in the housing society for the last several years, is happy that their old chawl-type houses will be replaced by a posh tower.
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