Mumbai, Aug. 3 -- After a two-decade struggle, 650-odd families of former Century Mills workers have a path to receive new homes on a six-acre plot in Lower Parel. This follows the Brihanmumbai Municipal Corporation (BMC) receiving a Rs 13.51 bn bid from Peddar Realty, the highest among four bidders for redevelopment of the site.
The Rs 13.51 bn figure is among the highest received in recent years for former mill land in the city but remains below the Rs 15.05 bn paid for the 8.37-acre Bharat Textile Mills site in 2010. The civic body opened bids in December and besides Peddar Realty received offers from K Raheja Corp, Keystone Realtors and Shapoorji Pallonji Real Estate. The reserve price was set at Rs 13.48 bn while the six-acre parcel is currently valued at around Rs 6.60 bn.
The plot contains 23 buildings with 476 tenements occupied by eligible mill workers' families and 10 shops. The BMC plans a high-rise residential complex modelled on MHADA projects, with rehabilitation flats allocated to eligible tenants and additional apartments to be sold in the open market to generate revenue. The lease term is 30 years with a renewable clause and the proposal to appoint the highest bidder will be placed before the improvements committee for approval before contract award.
Residents have waited nearly two decades since the mill closed in December 2006 and campaigners have said at least 250 workers died awaiting rehabilitation. Officials indicated that new flats will measure about 405 sq ft depending on the scheme chosen by the developer and that cluster redevelopment can follow DCPR provisions used for dilapidated structures. The tenants first received eviction notices in February 2025 after a Supreme Court ruling affirmed BMC ownership of the 25,000 square metre (six point one seven-acre) plot, clearing the way for redevelopment work after a long legal dispute.
Published by HT Digital Content Services with permission from Construction World.