Nargis Dutt Nagar Redevelopment to Draw Rs 10,000 Crore Investment in Luxury Housing and Slum Rehabilitation
The redevelopment of Nargis Dutt Nagar, Mumbai’s largest slum enclave located in Bandra (W), is set to become a major real estate development project, with an estimated investment potential of Rs 10,000 crore. This ambitious project aims to not only rehabilitate over 1,500 slum families but also introduce a luxury residential component in the heart of one of Mumbai’s most sought-after locations.
According to property market experts, the sale component of the redevelopment project, covering about 10 lakh square feet, is expected to be worth around Rs 10,000 crore. The project is a joint venture between Omkar Developers, who will manage the rehabilitation of slum dwellers, and Godrej Properties, which will take charge of the luxury residential towers. Omkar will provide free housing to the slum families on a portion of the land, with a construction area of about 5.4 lakh square feet dedicated to their rehabilitation. The company is working in collaboration with Godrej Properties, which will develop the remaining land into high-end residential towers offering 3 and 4 BHK apartments. The luxury residences will cater to the city’s affluent market, capitalizing on the prime location in Bandra.
In addition to the residential towers, the project also promises substantial infrastructure improvements for the local community. As part of the redevelopment, a new D P Road will be constructed adjoining the project site, which will help ease traffic congestion in the area. The project will also include welfare amenities like balwadis, healthcare centers, libraries, community halls, and religious structures, all in compliance with the Slum Rehabilitation Authority (SRA) norms. While the development promises to bring significant improvements to the area, it has not been without controversy. Some residents of Nargis Dutt Nagar have expressed concerns about the transparency and fairness of the rehabilitation process. Nehal Khan, a local resident, claimed that slum dwellers have been kept in the dark about the redevelopment. He alleged that the administrator appointed by the SRA has been in charge for over five years and that no elections had been held to appoint a new society, leaving residents worried about being left out of the rehabilitation process.
The developer, however, has assured that the process is proceeding as per SRA guidelines. A spokesperson for Omkar and Godrej clarified that the Slum Rehabilitation Authority (SRA) issued a revised letter of intent on September 13, 2024, confirming the eligibility of 1,515 tenants for rehabilitation. The spokesperson added that Roshni Developers, responsible for facilitating the eligibility process, is following all stipulated norms regarding tenant eligibility and compliance. Historically, Nargis Dutt Nagar was established in the 1980s, and earlier attempts to remove the slums were met with resistance, particularly from the late Congress MP Sunil Dutt. Despite the challenges, the redevelopment project is now poised to transform the area, making it a major urban landmark while improving the living conditions for thousands of slum dwellers.
The Nargis Dutt Nagar redevelopment is a significant step towards addressing Mumbai’s housing crisis, with a mix of luxury housing for the city’s elite and rehabilitation for the underprivileged. The project is expected to enhance the local economy, create new job opportunities, and contribute to the overall urban development of Mumbai’s western suburbs. As the project moves forward, stakeholders are hopeful that the transparent and well-executed redevelopment will provide a model for future slum rehabilitation projects across Mumbai. With a projected investment of Rs 10,000 crore and long-term benefits for both the community and investors, Nargis Dutt Nagar’s transformation into a modern residential and commercial hub is poised to reshape the Bandra skyline and improve the quality of life for its residents.
