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Mumbai Update II - project news from Mumbai ‎

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#1 ·
#7,983 · (Edited)
was just checking the wiki page of tallest buildings in india saw these projects but never heard of them and also they are quite old so are they canceled
• SEWRI | R M Batthad+IL&FS | ~400m | 90fls | 8 Towers

• WORLI | Skylark Heights | 375m | 83 fls | +156m Com Building

• TARDEO | Matru Mandir | 325m | 100fls | + 1 x 55fl & 5 x 25fls

also India international trade centre |72fl and oberoi skyz |65fl *2
 
#7,988 ·
The project is in the works. Not every project has to be hyped or have a concerted song & dance show in the media from the onset. A big u/c project like Oasis doesn't have one yet.

It's still technically in the "proposal" stage, but there has been some very recent noticeable traction. Google earth shows that in the past year they've torn down existing on-site structures and cleared out some trees. The developer (Bhattad) also revamped their website and listed the project on it.

Just last month, Peninsula Land joined the Bhattad-IL&FS alliance to execute the project:

Oct 11: Peninsula Land inks pact with Bhattads to develop 19-acre plot in Central Mumbai
MUMBAI: Real estate developer Peninsula Land has entered into an agreement to jointly develop a plot of about 19-acre in central Mumbai with the landowner Bhattad family and HEM Bhattad Developers. The project is expected to generate a total saleable space of about 1.85 million sq ft by 2017-18.

Under the pact, the Ashok Piramal Group company will pay Rs 144 crore to HEM Bhattad Developers and Bhattad family as an upfront consideration. The entire amount will be utilised for repayment of debt.

HEM Bhattad Developers is a 51:49 joint venture between Peninsula Land and IL&FS. The land is currently owned jointly by Bhattad family and HEM Bhattad Developers in the ratio of 35:65 equity holding, a top company official said. Peninsula Land has already developed close to 2 million sq ft space in central Mumbai and this deal will help it in strengthening its position in the market, executive vice-chairman Rajeev Piramal said.

The total development over 19 acres will be undertaken in two phases, with the first phase of nearly 6 acres estimated to provide saleable area of about 5.5 lakh sq ft. Peninsula Land will receive 64% of the revenue generated from the first phase. The second phase will be spread over 12.5 acres and Peninsula Land will be responsible for project management.

This phase is estimated to generate 1.3 million sq ft of saleable area. For this phase, Peninsula is expected to get 8% revenue as project management charges. The plot is located right next to Peninsula Land's existing residential project, Ashok Gardens. This will be its third residential development in central Mumbai, after Ashok Towers in Parel and Ashok Gardens at Sewri, both high-end projects. On Wednesday, shares of Peninsula Land closed at Rs 51.70 on BSE, up 3.1% from Tuesday's close.
 
#7,991 ·
Say hello to another skyscraper development in Lower Parel
Jumeirah Group made this press release today:

Jumeirah Group to expand into India
Dubai, 26 November 2012: Jumeirah Group, the global hospitality company and a member of Dubai Holding, has signed a management agreement to operate a luxury hotel in central Mumbai, India. The hotel is part of a major new development in the Lower Parel district of the city and is expected to open in 2017.



When complete the property will consist of 470 spacious rooms, suites and serviced apartments, a wide range of restaurants and bars, extensive conference, wedding, banqueting and meeting facilities and a Talise spa.

This agreement represents the first phase of Jumeirah Group’s expansion into India. The company is currently in advanced negotiations on potential projects for hotels and resorts in other key destinations in India.


- The tallest tower will house the Jumeirah hotel

Jumeirah Group currently operates 20 luxury hotels and serviced apartments, including 10 in the UAE, seven in Europe, two in the Maldives and one in China. A further 15 hotels are now under development. The signing of the company’s first deal in India is a breakthrough in a country that has both a high awareness of the Jumeirah brand and a growing appetite for luxury hospitality.

President and Group CEO of Jumeirah Group, Gerald Lawless said: “The demand for five-star hotels in the Indian market has been robust and we are delighted to have initiated the first phase of our expansion into India with this landmark project in Mumbai. We look forward to building on this success by bringing our promise of Jumeirah STAY DIFFERENT to other destinations in the country.”
From the Economic Times:
"We will unveil the name of the hotel and further details about the Mumbai project at the next stage of the property's development in mid-2013," said a company spokesperson.
Looking at the renders it's hard to tell which mill compound this will be built in, but I'm guessing it's either Lodha's NTC mills that they got from DLF or it's Bombay Dyeing's Worli Spring mills.
 
#7,994 ·
32 parking lots for MUmbai

http://timesofindia.indiatimes.com/...toreyed-parking-lots/articleshow/17380817.cms

MUMBAI: The state government has approved 32 public parking lots under the revised parking floor space index (FSI) policy, creating space for over 30,000 vehicles in the city.

Of the 32 approved parking spaces, 20 are located in the island city, nine in the western suburbs and three in the eastern suburbs. In all, the BMC received 70 proposals, of which 32 have so far been approved by the state government. Another 11 proposals cleared by the BMC are awaiting the government's nod.

To encourage private developers to build public parking lots, the state government in 2008 had announced a policy under the Development Control Regulation (DCR) 33(24) which would grant the developer up to four FSI in exchange for construction of parking lots. But the original policy had to be revised after experts termed it as builder-driven.

Under the revised policy, the parking lot floors are restricted up to four, the minimum area of the plot required to avail of the policy has been increased from 700 sqm to 1,000sqm in the island city and 2,000sqm in the suburbs. Under the original policy, builders had proposed to build 12-15 storeys of parking spaces in exchange for the huge bonanza in the form of additional floor space index (FSI), the ratio of which determines how much can be built on a plot.

Under the old policy, the government had approved proposals for 26 parking lots of which 11 were given commencement certificates (CC). However, after the revised plan was announced they were asked to amend their plans and resubmit them to the BMC.

The 32 approved proposals include 26 proposals which were amended and re-approved.

"All the 32 parking lots have been approved as per the revised policy. Those that were given the CC earlier have made the changes or are in the process of making the changes to adhere to the revised norms," said additional municipal commissioner Aseem Gupta. He added that the BMC has so far received Rs 250 crore as premium for the extra FSI.

Once the construction of the parking lots is completed, the developer has to hand them over to the BMC which will operate them. Currently the BMC has 92 functioning parking lots in the city under the 'pay and park' scheme, with space to accommodate 10,314 vehicles.
 
#7,995 ·
New FSI norms for townships

http://timesofindia.indiatimes.com/...-boost-economic-hubs/articleshow/17379710.cms

MUMBAI: To encourage creation of new economic hubs, the state government has decided to make it mandatory for township projects to set aside up to one-fourth of the land for economic activity.
Chief minister Prithviraj Chavan recently approved a fresh policy for special township projects, which contains this provision of setting setting aside land for economic activity.
Special township projects are those where a developer is permitted to set up a township along with all necessary infrastructure and amenities in a composite plot spread across 40 hectares (around 100 acres).
The idea is to create employment opportunities for citizens near their residences, an official said. Besides improving the quality of life of citizens, the move will also enable decongestion of developed economic centers like Mumbai, the official added.
The government has categorized businesses centered around education, hospitality, healthcare, and entertainment, among other activities as economic activity. Townships spread across 40-100 hectares will have to set aside 15% of its area for such activity, those over 100-200 hectares will have to reserve 20% and those above 200 hectares 25%, a source said. Meanwhile, the fresh policy also aims at redesigning the skyline of townships by raising the floor space index (FSI). Depending on the size of the plot and its location, an FSI of 1.3-1.7 will be provided under the new policy. The same benefit ranged between 0.2 and 1 previously.
While allegations that the policy was being designed to benefit a couple of major developers who are developing townships in MMR, Chavan denied it. Claiming that the policy was aimed at promoting planned development, Chavan said that his government had studied existing policies implemented in Gujarat, AP, Haryana, and Uttar Pradesh before taking a decision.
For developable areas in the MMR, the FSI available will range from 1.5 to 1.7. A maximum FSI of 1 was previously provided. It will be 1.5 for townships spread across 40-100 hectares (100 to 247 acres), 1.6 for 100-200 hectares and 1.7 for townships above 200 hectares.
Chavan however said that the government has imposed a fresh condition requiring developers to build small-sized house for economically weaker sections and low income groups on 20% area of the plot. To be handed over to Mhada after being constructed, Chavan said that these would boost affordable housing stock. The government will charge premium at ready reckoner value for the additional incentive FSI (excluding one used for public housing).
A state-appointed panel had recommended the hike in FSI to incentivize township projects arguing that the existing policies had failed to elicit desired response from developers. The panel also recommended doing away with multiple policies for townships. Chavan said that the government has accepted the panel's report. While different incentives were provided to urbanizable areas within and outside municipal limits, this has been withdrawn in the new regime.
No township will be permitted in ecologically sensitive zones. But, the government has hiked FSI for development of other 'green' zones existing alongside transport corridors. Existing townships where 20% area is yet to be developed could also avail the new policy, sources said. A notification will be issued this week. "We will invite suggestions and objections from the public," said Chavan. The FSI incentive for such projects was last hiked in 2008.
 
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