India, March 6 -- Maharashtra's High Power Committee has greenlit the redevelopment of nearly 200 acres spread across three major clusters in the city. The Maharashtra Housing and Area Development Authority (Mhada), which will execute the redevelopment projects, will soon initiate the process to float tenders calling for bids, officials familiar with the matter told Hindustan Times.

"The meeting where the three projects were approved was held last week, but the minutes are pending," said Sanjeev Jaiswal, Vice President and Chief Executive Officer, Mhada. "Once the minutes are signed, further documentation and procedures will be initiated."

Among the three, the largest land parcel is at Bandra Reclamation, covering 98 acres. A total of 1...