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BMC Century Mill Lease Draws Congress Protest Over Valuation
The BMC wants to lease valuable Century Mill land in Mumbai to a private company.
The company offered ₹1,351 crore for a 30-year lease.
Congress leaders say the land might eventually be worth about ₹13,000 crore to develop.
They want the BMC to study whether it could develop the land itself.
They also want clear details about homes for former mill workers.
The project is expected to provide homes to 476 families.
The Improvement Committee has approved the plan.
The BMC’s General Body is expected to make the final decision next week.
The BMC selected Peddar Realty Ltd. for a ₹1,351-crore, 30-year lease of 23,822 sq m of Century Mill land in Lower Parel.
Congress says the plot could have a development value of about ₹13,000 crore and wants the proposal put on hold.
The lease could be extended for another 30 years under a public-private partnership model.
The redevelopment is intended to permanently rehabilitate 476 former mill-worker families, with flats of about 405 sq ft for eligible families.
The Improvement Committee cleared the proposal, which is expected to go before the BMC General Body for final approval next week.
- Who
- The Brihanmumbai Municipal Corporation, Peddar Realty Ltd., Congress leader Azmi, and former Century Mill-worker families are involved.
- What
- The BMC has proposed leasing Century Mill land to Peddar Realty Ltd. for ₹1,351 crore and 30 years, with redevelopment and worker rehabilitation.
- Where
- The 23,822-square-metre Century Mill plot is in Lower Parel, Mumbai.
- When
- The proposal is expected to receive final consideration at next week’s BMC General Body meeting; the mill closed in December 2006.
- Why
- The proposal aims to redevelop the land, rehabilitate former mill-worker families, and generate revenue for the BMC, while Congress is challenging its valuation and public-interest safeguards.
Congress and Opposition Concerns
BMC Redevelopment Proposal
Land valuation
Congress and Opposition Concerns
Congress argues that the BMC may be accepting about ₹1,351 crore for land with an estimated development potential of ₹13,000 crore, and wants an independent assessment of whether the city can retain more value.
BMC Redevelopment Proposal
The BMC has selected the highest bidder through a public-private partnership process, with the lease intended to generate revenue while enabling redevelopment.
Use of public land
Congress and Opposition Concerns
Congress says the land’s development potential should not be transferred to a private developer without proving that the arrangement protects Mumbai’s long-term financial and public interests.
BMC Redevelopment Proposal
The proposal uses a 30-year lease, extendable by another 30 years, to facilitate a high-rise residential redevelopment involving private-sector participation.
Worker rehabilitation safeguards
Congress and Opposition Concerns
Congress wants details on temporary accommodation, permanent-home locations, flat sizes, tenure, the sanctioned layout, completion deadlines, and protections against developer delays or default.
BMC Redevelopment Proposal
The proposed project is intended to provide permanent homes to 476 former mill-worker families, including rehabilitation flats of approximately 405 sq ft.
Key facts
- Selected bidder
- M/s Peddar Realty Ltd.
- Lease offer
- ₹1,351 crore for 30 years, extendable by another 30 years
- Plot size
- 23,822 sq m, or approximately 6.17 acres
- Estimated development potential
- Congress estimates approximately ₹13,000 crore in gross development value
- Rehabilitation beneficiaries
- 476 former mill-worker families
- Proposed rehabilitation homes
- Approximately 405 sq ft flats for eligible families
- Approval status
- Cleared by the Improvement Committee and pending consideration by the BMC General Body
Quotes
Congress leader Azmi
Congress leader who criticized the proposed Century Mill land lease and demanded greater protection of public value
“It cannot be reduced to a simple exercise of monetising municipal land.”
freepressjournal.in
Sources
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