Mumbai Fed remake seeks foreign investment
Remaking of Mumbai Federation to send delegation to Shanghai to attract foreign investment.
By PTI |
MUMBAI: The Remaking of Mumbai Federation (RoMF), a body formed to revamp the city, will send a delegation to Shanghai, which is hosting a global meet Council on Tall Buildings and Urban Habitate, to attract international investment and partnerships.
"After the deluge on July 26, it is clear redevelopment of Mumbai city needs planned sectoral approach. RoMF is looking at joint venture route for faster and planned growth while releasing enough funds for upgrading infrastructure," a release quoting RoMF convener Lalit Gandhi, also the chairman and managing director of Lok Housing and Construction, said.
RoMF's blueprint estimates that Mumbai's infrastructure would need investment of about Rs 20,000 crore. RoMF has been invovled in talks with Maharashtra government to evolve startegies to rebuild the city.
With around 20,000 dilapidated buildings in the city, the plan is to permit higher permissible floor space index and offer higher incentive for development, the release said.
RoMF has proposed creation of a single planning regulatory and decision making body on a public private partnership basis to oversee sector by sector development of the city. The focus would be on vertical development leaving adequate open space for public use, it said.
RoMF is made of representatives from chambers of industry, NGOs, housing bodies, financial institutions, real estate developers and tenants associations.
"After the deluge on July 26, it is clear redevelopment of Mumbai city needs planned sectoral approach. RoMF is looking at joint venture route for faster and planned growth while releasing enough funds for upgrading infrastructure," a release quoting RoMF convener Lalit Gandhi, also the chairman and managing director of Lok Housing and Construction, said.
RoMF's blueprint estimates that Mumbai's infrastructure would need investment of about Rs 20,000 crore. RoMF has been invovled in talks with Maharashtra government to evolve startegies to rebuild the city.
With around 20,000 dilapidated buildings in the city, the plan is to permit higher permissible floor space index and offer higher incentive for development, the release said.
RoMF has proposed creation of a single planning regulatory and decision making body on a public private partnership basis to oversee sector by sector development of the city. The focus would be on vertical development leaving adequate open space for public use, it said.
RoMF is made of representatives from chambers of industry, NGOs, housing bodies, financial institutions, real estate developers and tenants associations.
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