Mumbai Matunga historic Buta Nivas Chawl goes for major redevelopment
Mumbai Matunga historic Buta Nivas 
Chawl goes for major redevelopment
Mumbai: Historic Buta Nivas Chawl InMatunga Set For Major Redevelopment
The going rate for residential premises is on the average Rs 70, 000 per sq ft. in the area.
Historic Buta Nivas, a mega chawl complex of the British era in Matunga, gears up for a major redevelopment.
It is learnt that in a big ticket deal Naresh Chheda of Happy Home Developers has inked a deal with the landlords, the Butas, and it has been endorsed by 80 % of the 159 tenants.
The building is located in a prime location on the arterial Babasaheb Ambedkar Road within walking distance of Matunga railway station and Maheshwari Udyan.
An interesting aspect of this development is that the neighbouring Sriji Niketan building is also being taken up simultaneously for redevelopment. Incidentally, actress Vidya Sinha had spent her childhood in this old building.
Buta Nivas consists of three two-storeyed buildings in a plot measuring about 3,600 sq mtrs. Each of the tenament in building numbers one and two is about 275 sq ft and the ones in building number three measure 300 sq ft. Each of the tenants will now get carpet area of 500 sq ft self-contained flats.
The going rate for residential premises is on the average
Rs 70, 000 per sq ft. in the area.
Source close to the development reveal that MHADA is processing the redevelopment proposal.
Notedly, Happy Home has successfully undertaken several redevelopment projects in Matunga and that was one of the reasons which persuaded the Butas to enter into a deal with it.
In the interim, Goshar Alliance is completing a mega redevelopment at Shanti Niketan diagonally opposite Buta Nivas. Godrej Properties is redeveloping a large project at at Agarwal Nagar also on Ambedkar Road in Matunga. However, the redevelopment of two other large buildings, Kapol Niwas and Ganesh Baug, nearby is yet to take off.
News Edit K.V.Raman
