HDIL to rehabilitate Mumbai slum dwellers

Mumbai, July 21

Mumbai-based developer Housing Development and Infrastructure Ltd (HDIL) will rehabilitate and resettle 20,000 slum-dweller families of the 85,000 occupying the Mumbai International Airport’s land at a cost of Rs 2,750 crore.

HDIL entered into a contract with the Mumbai International Airport Ltd (MIAL) to relocate the slum families which had encroached upon 276 acres of airport land. The deal entitles HDIL close to 50 million sq ft of transfer of development rights (TDR) which can be either encashed or used elsewhere. A sq ft of TDR at today’s rates in Mumbai could fetch about Rs 3,000.

Airport expansion

Last year, Larsen and Toubro was awarded a Rs 5,550-crore contract by MIAL to build a new integrated airport passenger terminal of the Chatrapati Shivaji International Airport. The order is for modernisation and expansion of the existing airside facilities and primary infrastructure support facilities. A new five million sq ft terminal, to be set up in four years, will double the annual passenger handling capacity to 40 million.

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