A day after it tabled the budget for the 2024-25 fiscal, the city corporation on Saturday drew criticism from different quarters for not including any futuristic project in it for the benefit of the public.
As per an MMRDA official, the estimated cost of the project and revenue from commercial sale is substantially higher, further making the project not only viable but also potentially profitable.
The Mumbai Metropolitan Region Development Authority (MMRDA) is seeking a Rs 4,000 crore loan for the redevelopment of Ramabai Nagar. The loan will be used for all works related to the project, which aims to provide rehabilitation for slum-dwellers and create additional housing. MMRDA has already prepared a detailed project report and will publicize the terms and conditions for the loan on February 5. The repayment period is expected to be 15 years. This is the first slum redevelopment project undertaken by MMRDA.
The Mumbai Metropolitan Region Development Authority (MMRDA) is seeking a Rs 4,000 crore loan for the redevelopment of Ramabai Nagar. The loan will be used for all works related to the project, which aims to provide rehabilitation for slum-dwellers and create additional housing. MMRDA has already prepared a detailed project report and will publicize the terms and conditions for the loan on February 5. The repayment period is expected to be 15 years. This is the first slum redevelopment project undertaken by MMRDA.