PrevNext

Byculla market to make way for residential-commercial complex

The wholesale fruit and vegetable market in Byculla, spread over 8,200 square metres of prime realty, is all set to be razed for a modern complex which will house a market, space for BMC and residential apartments.


A fresh construct: Byculla wholesale fruit market is set for redevelopment in the coming months. Pics/Suresh KK

According to real estate sources, the work on the market between Byculla station and the Khada Parsi statue should commence within the next three months.

The plan is to erect a complex with a three-storey market, the four floors above it will be reserved for the BMC, and beyond that would be a 9- or 10-storey residential building -- the last being the redeveloper’s saleable component.

Purbi Realty, a subsidiary of Mumbai-based Pashmina Developers, is going to redevelop the market. The ratio of space sharing between the BMC and the developer is 10:6, that is, the BMC’s share will be a little above 60 per cent and the developer’s a little below 40 per cent. For every 1 sq m the developer gives to the civic body, he will get 0.6 sq m as incentive for the saleable portion.

A senior BMC officer said, “NOC has been given to the realtor for redeveloping the BMC market, and it is as per the BMC policy where the developer would get an incentive of 0.6 m for every sq m he develops for us.”

Biggest market
The FSI given for the project is 4, but due to planning constraints, the developer is allowed to use an FSI of 3.7 srently is among the biggest in Mumbai, second only to Crawford Market in terms of its popularity and reach.

The complex, located on a slope, will be designed in a way that the market, residential apartments and the BMC space would have separate entries. The entry and exit for the market would be at the ground level straight from the road. Similarly, there would be exclusive entry to the residential floors, so vendors, customers, and residents are not disturbed by one another’s activity.

Rajesh Turakhia, CEO of Pashmina Developers, confirmed that his company would start the work soon. “The redeveloped market will change the current conditions to a more attractive, well-planned layout. It would replace the old unplanned market that has little or no sanitation with a market that’s airy with modern sanitation, garbage disposal area, separate loading and unloading docks and ample light and ventilation. Being on an incline, there would be a ground level entry for every level of the market as well as the residential apartment.”

Hafeez Contractor, architect for the Byculla market redevelopment project, thinks that such multi-use projects are going to be the norm of the day.

“Earlier there were apprehensions about having residential with commercial establishments, then restaurants with residential, but now we can’t think of horizontal divisions only but also vertical divisions. The design had to be done keeping in mind the plot size as it’s a very tight spot and it’s a mix use project,” Contractor said.  

You May Like

MORE FROM JAGRAN

0 Comments

    Leave a Reply