News & Views on Indian Real Estate

Tuesday, September 30, 2008

Dharavi Residents To Get Bigger Flats

The demand for bigger houses by 60, 000 Dharavi residents has been answered. The state government has decided to give the dwellers 300 sq ft houses instead of the proposed 269 sq ft after the redevelopment. According to the new provision, each dweller would get an additional 10 per cent of the total built-up area as a balcony. Earlier, the balcony was included in the total carpet area. Also, they would be given an additional Rs 20, 000, which would be paid by the Slum Rehabilitation Authority for the mainstream premises. The developer building the project is also supposed to provide Rs 20, 000 in an escrow account to finance the building's upkeep. "This means the dwellers will get Rs 40, 000 for the project’s upkeep. We will pay our part through the premium that we get from the redevelopment project," Dharavi Development Authority CEO, Mr. Gautam Chatterjee, said.

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