Sra

Project Management
Maharashtra Development
Redevelopment Projects / SRA
Maharashtra Development: Redevelopment/SRA
BDD (Bombay Development

Department) Chawl
redevelopment plan
Project Stage 1
Pre-feasibility Study
Size of each Location in

Ha.
No. of Buildings
FSI Utilization
Tenement Density/Ha
Number of
Tenements
Number of People Residing in the

BDD Chawls
Rent recovery by PWD in Lakh
O and M Expenses incurred by P.W.D (in

Lakh Rupees)
Income & Expenditure of BDD Chawls
Project Stage 2
Support Studies
Details of BDD chawls
10
Land Area, space utilization and population

density of BDD chawls and details about surveyed
rooms.
11
Number of family members in households of

BDD chawls.
12
Population of BDD chawls based on

occupancy data.
13
Earning Members and Monthly Income of

Households from BDD Chawls.
14
Average monthly income of the households
15
Monthly rent paid by the occupiers and their

numbers
16
Project Stage 3
Feasibility Study
17
Economic Viability
The rent charged is extremely low and PWD is unable to
recover even 50% of that.
Therefore major repairs through PWD could not be done.
The land value of the locality has appreciated phenomenally
in the last 80 years.
Strategy needs to be carefully devised taking into
consideration the history of chawls, locational advantage,
development pressure, availability of urban amenities, socioeconomic condition of existing tenants, very small revenue
and high maintenance cost as well as serious shortage of
affordable housing in the heart of the city.
18
Commercial Feasibility
All the BDD chawl structures are located in the heart of
the island city of Mumbai and are almost 80 years old.
These chawls have completed their life cycle.
External infrastructure provided to the buildings, such
as, water supply, sewage and storm water drainage has
deteriorated and is in need of urgent replacement.
19
Project Stage 4
Detailed Project Report
20
Land and FSI calculations for BDD Chawls
21
Number of Tenements to be
Constructed
22
Allocation of available built up area:

Redevelopment under DCR 33(9)
23
Proposed Distribution of
Built up area
24
Outcome of redevelopment under DCR 33(9)

Free houses to around 16,000 existing tenants
Creation of additional stock of 6,529 houses
MHADA entitled to 2,86,529 sq. m. BUA (approximately 4,897
houses of 56-58 sq.m. BUA) free of cost (valued at Rs. 2,219
crore at the current ready reckoner rate)
Developer entitled to incentive area of 6,00,239 sq.m. BUA
(approximately 1,632 houses of 206-282 sq.m. and commercial
area of around 180,072 sq.m2) that can be sold in market
Planned development of 37 hectares of area in the heart of the
city.
25
Project Stage 5
Schedule of Implementation of
Project
The completion period of Redevelopment shall be of not
more than two years and in special cases not more than
3 years in case of any exigencies
26
Project Stage 6
Project Cost
27
Cost of Redevelopment
28
Details of Cost of Redevelopment Cost of the off site infrastructure development includes
water supply, sanitation, construction of roads, play
grounds, amenity open space, electricity, rainwater
drainage etc. and is considered at Rs. 3,750/ sq.m. of land
area.
The total cost of construction is Rs.4,184 crore for a total
built up area of 1,453,292 sq.m.
Thus the average cost of construction comes to Rs. 28,800
/ sq.m.
29
Project Stage 7
Means of Financing the project
30
Finance Options
NHB- National Housing Bank
Provides assistance for project lending to a range of borrowers
both in the public and private sector.
Other than NHB there are institutions which have various schemes
for providing financial assistance to redevelopment projects:
Savings and Loan Associations
Commercial Banks
Life Insurance Companies
Mutual Savings Banks
Mezzanine Capital
31
Project Stage 8
Marketing and selling arrangements
32
MHADA Lottery System
33
Project Stage 9
Profitability and cash flow estimates
34
Estimated Revenue Returns for the

developer
35
Conclusion from Estimated Returns

The developer can generate a net revenue of Rs.3,400
crore from the said project at the current ready reckoner
rates.
The market rates appear to be 2 to 3 times higher than
that which means that the actual returns could be in the
range of Rs.7,000 crore to Rs.10,000 crore.
Even at the ready reckoner rates, the premium
expected to be received by the state government can
be around Rs.1,700 crore (assuming that 50% of the
returns shall be passed on by the developer).
36
Project Stage 10
Mode of repayment of term loan
37
Payment Details
Interest Rates
The option of availing fixed or floating interest rates is available.
The interest rates are determined based on the Prime Lending Rate of the
Bank.
Prepayment Charges
On floating rate loans: 0.50% of amount to be repaid
On Fixed rate loans: 0.50 to 1.50%, according to residual maturity
Extent of Financing and Period of Loans

The extent of financing is based on the type of project and also the rating
assigned by National Housing Bank.
It varies between 65 to 100% of the project cost.
The maximum period of loan is 15 years.
38
Project Stage 11
Govt. Approvals, Local body consents and other
statutory permissions
39
Sr
No
Approval
1 Ownership Certificate/Extract
2 Building Layout Approval
Duration
15 Days
Rs. 50 per CTS No.
30 Days
of Rs 28 per square meter

of plot, Rs 56 per square
meter for commercial
Obtain "intimation of disapproval"

(building permit) from the Building
3 Proposal Office & submit structural 30 - 45days
plans approved by a structural
engineer to the BMC (Municipal)
4 Non-Agriculture Permission
Obtain "no-objection certificate"
5 NOC from the Tree Authority
(Municipal)
Obtain NOC from the Storm
6 Water,Sewerage and Drain
Department (Municipal)
Obtain NOC from the Electric
7
Department (Municipal)
Cost
Dept.
Grant of Permission by Revenue
Depart
Grant of Permission by
Development
Authority/Municipality
Scrutiny fee of Rs 33 per

sqmt for residential and Rs
66 per sqmt for commercial, Building Proposal Office &
Development charges of Rs Muncipal Corporation Office
350 per sqmt for residential
and Rs 700 for commercial.
min. 3
months
Depends on the location of

the project and ranges
Revenue Department
between Rs 2-8 per sq ft.
30-60 days
INR 4,000 (per tree)
Tree Authority Committee of

Municipal Corporation
15-30 Days
Scrutiny Fees INR 2/smt

(BMC limit)
Storm Water & Drain

Department (Muncipal)
15-30 days
N/A
Electric Department (Municipal)
40
Sr
No
Approval
Obtain a "no-objection certificate"

NOC from the Traffic and
8 Coordination Department
(Municipal)
Obtain a "no-objection certificate"
9 NOC from the Chief Fire Officer
(Municipal)
10 Environment Clearance
Duration
Cost
Dept.
30 days
N/A
Traffic and Coordination

Department
(Municipal)
30 days
Rs. 50 per square meter
Chief Fire Officer (Municipal)
State
Environment Impact
Assessment Authority (SEIAA),
Coastal Regulatory Zone (CRZ) ,
3 months to 1 Charges depend on the size
Ministry of Environment/State
year
of project
Environment Impact
Assessment Authority
(SEIAA)/ State level expert
Appraisal Committee
11 Ancient Monument Approval

6 months
Consent to Establishment &
12
2 months
Operate
13 NOC from Airport Authority of India 3-4 months
N/A
Archaeological Survey of India
N/A
Pollution Control Board (PCB)
N/A
Civil Aviation Department
41
Sr
No
14
Approval
Obtain commencement
certificate
Duration
Cost
Dept.
200 INR per square

meter (land component)
15-30 days + 500 INR per square
Building Proposal Office
meter (building
component)
Bore well Registration

15 Certificate: (Outside Municipal 60 days
N/A
Limit)
6 months
16 NOC if near coastal Area
N/A
1 year (+)
Permission for Excavation /
15 30
17
N/A
Royalty payment
days
Other Common Facilities
18 Approval: (Internal
30 days
N/A
Infrastructure services)
Road Access Highway /
19
60 days
N/A
Expressway
Lift Escalator Installation
20
30-45 days N/A
Approval (PWD / CPWD)
Electric substation NOC For all
substation Transformers in
21
15 days
N/A
building (Electric Service
Provider)
Central Ground Water

Authority
Coastal Zone Management
Authority
Collector & Executive
Engineer in the Ward Office
The concerned service
provider for water,
electricity & telecom
NHAI/PWD
PWD
Electricity Distribution
Authority
42
Sr
No
Approval
Obtain occupancy certificate

from the BMC (Municipal)
Obtain Building completion
23 certificate from the BMC
(Municipal)
22
24
Apply for permanent power

connection
Obtain permanent water

connection
Obtain permanent sewerage
26
connection
25
Duration
Cost
Dept.
60 days
N/A
BMC
30 days
N/A
BMC
30 days
registration fee of INR

50
Brihanmumbai Electric
Supply and
Transport (Municipal)
45 days
INR 1,200 (connection

fee)
BMC
30 days
INR 50,000
BMC
43
STAGES OF REDEVELOPMENT
1. Offer letter to the society
2. Terms and conditions with the society
3. Agreement with the society
4. Sanction from MCGM in favour of the society
5. Loading of TDR in the societys name
6. Obtaining the IOD
7. Shifting of the members
8. Demolition of the building
9. Obtaining the CC
10. Construction of the new building
11. Obtaining the OC
12. Shifting the old members
44
Project Stage 12
Details of collateral security that can be offered to be
financial institutions
45
The project finance shall be secured through one or more of the

following depending on the Agency/project:
Mortgage/charge over immovable property acceptable to NHB
Charge over receivables
Bank Guarantee
Government Guarantee
Corporate Guarantee
Charge on Book Debts
Fixed Deposit Receipts
Hypothecation of property
Any other security acceptable to NHB
Interim Security ( in some cases interim security may be required
till the main security is lodged with the Bank)
46
SRA- A Failure in Mumbai

SRA was setup in 1996 & has completed 197 out of 1524 allotted
projects(<13%).
Above 50% of ineligible tenants identified (>1995)
Slums were found to be occupying plots reserved for playgrounds &
recreation grounds & under CRZ zones..
Even after CRZ slum developments was allowed, the rule of State
government owning 51% stake made development financially
unviable.
Lack of effective monitoring of ongoing redevelopment schemes.
47
The Solution
The state has approached the Centre for relaxation in
Coastal Regulation Zone norms to push redevelopment
of coastal slums.
Proposal to remove 51% stake for CRZ development to
invite more bidders.
The SRA also wants on site redevelopment on portions
of slum affected recreation ground/playground lands.
To accommodate more slum dwellers, the government
has proposed & succeeded in raising the cut-off from
1995 to 2000.
48
Thank You!!!
49

Sra

Încărcat de

Informații document

Descriere originală:

Drepturi de autor

Formate disponibile

Partajați acest document

Partajați sau inserați document

Opțiuni de partajare

Vi se pare util acest document?

Este necorespunzător acest conținut?

Drepturi de autor:

Formate disponibile

Sra

Încărcat de

Drepturi de autor:

Formate disponibile

Project Management

Maharashtra Development: Redevelopment/SRA

BDD (Bombay Development

Maharashtra Development: Redevelopment/SRA

Maharashtra Development: Redevelopment/SRA

Size of each Location in

Maharashtra Development: Redevelopment/SRA

Maharashtra Development: Redevelopment/SRA

Number of People Residing in the

Rent recovery by PWD in Lakh

O and M Expenses incurred by P.W.D (in

Maharashtra Development: Redevelopment/SRA

Income & Expenditure of BDD Chawls

Maharashtra Development: Redevelopment/SRA

Maharashtra Development: Redevelopment/SRA

Details of BDD chawls

Maharashtra Development: Redevelopment/SRA

Land Area, space utilization and population

Maharashtra Development: Redevelopment/SRA

Number of family members in households of

Maharashtra Development: Redevelopment/SRA

Population of BDD chawls based on

Maharashtra Development: Redevelopment/SRA

Earning Members and Monthly Income of

Maharashtra Development: Redevelopment/SRA

Average monthly income of the households

Maharashtra Development: Redevelopment/SRA

Monthly rent paid by the occupiers and their

Maharashtra Development: Redevelopment/SRA

Maharashtra Development: Redevelopment/SRA

Maharashtra Development: Redevelopment/SRA

Maharashtra Development: Redevelopment/SRA

Land and FSI calculations for BDD Chawls

Maharashtra Development: Redevelopment/SRA

Maharashtra Development: Redevelopment/SRA

Allocation of available built up area:

Maharashtra Development: Redevelopment/SRA

Maharashtra Development: Redevelopment/SRA

Outcome of redevelopment under DCR 33(9)

Maharashtra Development: Redevelopment/SRA

Maharashtra Development: Redevelopment/SRA

Maharashtra Development: Redevelopment/SRA

Maharashtra Development: Redevelopment/SRA

Maharashtra Development: Redevelopment/SRA

MHADA Lottery System

Maharashtra Development: Redevelopment/SRA

Maharashtra Development: Redevelopment/SRA

Estimated Revenue Returns for the

Maharashtra Development: Redevelopment/SRA

Conclusion from Estimated Returns

Maharashtra Development: Redevelopment/SRA

Extent of Financing and Period of Loans

Maharashtra Development: Redevelopment/SRA

Rs. 50 per CTS No.

of Rs 28 per square meter

Obtain "intimation of disapproval"

Scrutiny fee of Rs 33 per

Depends on the location of

INR 4,000 (per tree)

Tree Authority Committee of

Scrutiny Fees INR 2/smt

Storm Water & Drain

Electric Department (Municipal)