Borivli Civic Mkt To Be Redeveloped Into Multi-storeyed Green Building, ET RealEstate

January 26, 2024
1 min read
Borivli Civic Mkt To Be Redeveloped Into Multi-storeyed Green Building, ET RealEstate


107172196

MUMBAI: The BMC plans to redevelop the Borivli Municipal Market into a ground-plus-19-storeyed building with a potential to develop over 3 lakh square feet of space. The civic body intends to develop the market building as a green building.

While the ground-plus-first floor will be used for current licensees, the complex is also likley to house a parking lot and municipal staff quarters apart from commercial space, which will be leased out.

“We are exploring various options for the multi-storeyed structure, which will be housed in a 6,000-odd square metre area on which the municipal market is currently located. We intend to accommodate a shelter for the homeless, BMC staff quarters/offices, parking lot and commercial spaces in the building, apart from a market for vegetables, fruits and groceries. The upper floors of the market will be developed as commercial space which can be leased out. A revenue model will be worked out,” said a BMC official.

Former corporator Pravin Shah said, “The BMC had earlier razed the upper three floors of the municipal market due to the condition of the building. The top floors also housed the ward office. Now, only the ground floor market exists. The BMC will now develop the market on its own, instead of giving it to the builder which is a good thing. As the land is also owned by BMC and the civic body can earn revenue from the redevelopment of the market. There were some disputes between some builders earlier about redevelopment of the market, but local MLA and MP have asked BMC to develop it on its own.” “We are studying a proposal to build the market with best facilities,” said additional municipal commissioner Sudhakar Shinde.

“There are 387 licensees who will be accommodated in the new market building, and we intend to develop it as a green building. A consultant will be appointed for the redevelopment, and we will fast track the proposal. There will be separate sections for vegetables, fruits, grocery and sections for fish and meat,” said Prakash Rasal, BMC assistant commissioner (Markets). The BMC had initiated a plan to redesign some of the markets, including improving basic amenities.

  • Published On Jan 26, 2024 at 11:26 AM IST

Join the community of 2M+ industry professionals

Subscribe to our newsletter to get latest insights & analysis.

Download ETRealty App

  • Get Realtime updates
  • Save your favourite articles


Scan to download App
realty barcode



Source link

curationteam

Curation Team will curate content from different sources and present for you. We will not edit any content. Source link is provided for the source from where its received .

Leave a Reply

Your email address will not be published.

2024012659 vaughanmills shoppingcentre600
Previous Story

Canada’s CRE transactions fell to $50.8B in 2023: Here are the Top-15 • RENX

Architectural Digest logo
Next Story

From Queen Margrethe II to King Frederik X: Your Guide to the Danish Royal Family and Their Castles

Latest from Blog