Alarmed by the lack of bidders for the Charkop-Mankhurd metro line, the state government is planning to raise money for forthcoming infrastructure projects by selling the plots reserved for recreational purposes in the Bandra-Kurla Complex
Alarmed by the lack of bidders for the Charkop-Mankhurd metro line, the state government is planning to raise money for forthcomingu00a0infrastructure projects by selling the plots reserved for recreational purposes in the Bandra-Kurla Complex, as reported in the Times of India.
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To make up for the loss of open space, plots abutting the Mithi river will be designated as recreation grounds. Part of that area on the banks of the river is reclaimed land. Whether the organizers of trade fairs and shows will be willing to hold events on the banks of this polluted and fetid river is anyone's guess.
According to MMRDA sources, the government hopes to raise Rs 50,000 cr by selling these plots, which total 24 hectares__the equivalent of three Oval Maidans. The law requires that 15% of space in newly created business and residential hubs be reserved for recreation grounds.
MMRDA officials say the plots will fetch around Rs 25,000 cr in today's depressed economy, but could fetch Rs 50,000 cr if sold with an FSI of 4 in a booming real estate market. This would bring in enough money to execute themajor infrastructure projects__all metro and monorail lines (combined cost: Rs 40,000 cr) and the transharbour link from Sewri to Nhava (Rs 6,500 cr).
The plan to shift the reservation to the banks of the river was first proposed three years ago by MMRDA's chief at that time, T Chandrashekhar, but was put on hold by then-CM Vilasrao Deshmukh, who was the ex-officio chairperson of the Mithi River Development Authority.
The river development authority had objected to the proposal, saying it would be an environmental disaster. Indeed, BKC itself has been created by reclaiming the mangroves in the Mithi estuary. In the floods of July 26, 2005, the entire area was six feet under water.
Urban planner Chandrashekhar Prabhu says shifting the recreation grounds could set a bad precedent. ''What stops them from shifting the Oval Maidan reservation to the sea off NCPA, or the Five Gardens to the mud flats of Sewri?'' he asks. He says such decisions demand proper scrutiny.
According to Prabhu, an FSI of 4 in the Bandra-Kurla Complex would lead togreater density of people and vehicles, necessitating additional open plots.
BKC, the cash cow of MMRDA, is spread over 200 hectares (equivalent to 25 Oval Maidans). Nearly one-third of this land is still unsold. MMRDA will sell plots gradually to finance its projects. It has a corpus of Rs 12,000 cr, and needs to invest Rs 40,000 cr in projects over the next three years.
The proposal to shift the recreation grounds to the banks of the Mithi is being given final shape by the urban development department, which is one of the CM's portfolios. Immediately after the auction for the second metro line on Friday, top bureaucrats went into a huddle to discuss this issue on the directive of chief minister Ashok Chavan. The CM is keen on the project and had announced last week that work on the Rs 7,660 crore Charkop-Bandra-Mankhurd line would start on March 1 this year.
MMRDA sources who attended the meeting said the state will have to wait until it hears from the Central Water and Power Research Institute and IIT-Bombay, which are considering whether the land abutting the river can be used forrecreation grounds.
The state government will also have to go through the due process of public hearings and environmental clearances in this matter, which officals say may take up to six months.u00a0
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