Mumbai’s largest self-redevelopment housing plan set to take off
The self-redevelopment model, where residents rebuild their homes without a builder, is gaining momentum in Mumbai.
The 220-member Sachin Cooperative Housing Society spread over five acres in Mulund (east) will be the largest residential complex in the city to go in for self-redevelopment.
After holding a ballot in which the majority of the members voted to rebuild the property themselves, the society recently appointed global real estate consultant Knight Frank as its project management consultant to prepare a roadmap. The project is estimated to cost Rs 700 cr.
The project has evinced interest among some of the world’s biggest architectural firms. Last month, architect Chris Bubb of the London-based Foster+Partner, visited the society and met the residents. Society members said Bubb was impressed with the residents’ initiative and expressed his intent to work for the project.
Another leading London-based firm, Knox Bhavan Architects, is sending a team to Mumbai next February to explore the Mulund project.