Reliance gets nod for Rs 684 crore, 16 lakh sq ft project in Navi Mumbai
Environment dept clears Reliance Corporate IT Park Ltd's commercial-residential project which has the largest built-up area sanctioned so far in Navi Mumbai; project cost a whopping Rs 684 crore
In one of the biggest realty projects in the metropolitan region cleared by the environment department, Reliance Corporate IT Park Ltd got the state’s nod to go ahead with its residential and commercial project spread across 87,323 square metres between Rabale and Ghansoli.
The venture had got the green signal for a built-up area (that is, area including vertical development) of 1.47 lakh square metres or 16 lakh square foot, which is the largest so far for Navi Mumbai.
The project would come up at the villages of Gothivli and Talavli that fall after Rabale, and cover around two-dozen sectors there.
According to realtors and locals, this is the biggest real estate development taking place in Navi Mumbai. Arvind Goel, MCHI-Navi Mumbai president, said, “Whatever has been developed in Navi Mumbai in the last few years is equivalent to what Reliance is developing currently at this project. We welcome this as development means movement in the market. With hotels there would be employment, and more residents mean more business.”
A realtor said the land rate in the area is around Rs 5,000-6,000 per square foot, and the project would propel the real estate business forward, boosting sales.
The reporter’s efforts to get in touch with Reliance Corporate IT Park Ltd received no response. MiD DAY has a copy of the clearance, signed by the new principal secretary of the department R A Rajeev on July 30.
Navi Mumbai’s biggest development project
>> The Reliance project, spread over 87,323 square metres, is a complex of seven buildings: five 12-storey residential buildings, a nine-storey structure to house service apartments, and finally, a four-storey hotel.
>> There would be ample sheltered parking space, green cover and two recreational grounds.
>> The project has been estimated to accommodate, in entirety, 2,022 residents or clients.
Room for more
344, number of flats in residential complex, of which 240 are for houses
104, number of flats in the service apartments building
161, number of rooms in the hotel
Number of occupants
1,200, number of people the residential complex would be able to house
580, number of clients who would be accommodated in the service apartments
282, number of guests the hotel would be able to host at a time
Rs 684.25 crore, estimated cost
of the project
46,252 sq m, total parking area for the project.
1,244, number of slots proposed in the covered parking area
840, number of trees that would be planted on the ground
180, number of tress that already stand at the site