Maha: MoU Signed Between Mahapreet and NBCC for Housing Complex Redevelopment in Mumbai
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Synopsis
A recent MoU between Mahapreet and NBCC aims to address Mumbai's housing challenges through collaborative infrastructure projects, emphasizing sustainable practices and redevelopment efforts.
Key Takeaways
- MoU signed between Mahapreet and NBCC for redevelopment.
- Focus on addressing Mumbai's housing needs.
- Implementation of 56 slum rehabilitation projects planned.
- Emphasis on ESG compliance and sustainable practices.
- Collaboration to enhance project execution through shared expertise.
Mumbai, March 27 (NationPress) On Thursday, a Memorandum of Understanding (MoU) was executed between Mahatma Phule Renewable Energy and Infrastructure Technology Limited (Mahapreet) and NBCC (India) Limited, a Navratna enterprise under the Ministry of Housing and Urban Affairs of the Union government, to advance various infrastructure projects.
As part of this MoU, Mahapreet and NBCC will work together to address the housing demands of the city of Mumbai.
According to a statement from the state government, NBCC (India) Limited specializes in large housing developments, constructing IT facilities, and managing the conceptualization, implementation, and financing of infrastructure initiatives both domestically and internationally.
Meanwhile, Mahapreet is involved in implementing the Pradhan Mantri Awas Yojana (PMAY) and affordable housing projects across significant developments, such as the Thane Cluster Development Project, Bhiwandi Municipal Corporation, and Chandrapur Municipal Corporation.
Mahapreet is set to execute approximately 56 Slum Rehabilitation (SRA) projects within Mumbai. The Mumbai Metropolitan Region Development Authority and several private cooperative housing societies in Mumbai have been collaborating with Mahapreet for the redevelopment of their neighborhoods.
Focusing on ESG compliance, the adoption of clean and green energy standards, waste recycling, the use of decarbonized materials, and the latest eco-friendly resilient construction technologies, Mahapreet aims to create employment opportunities for the state's underprivileged while adhering to international project monitoring standards.
As a leader in project implementation, Mahapreet and NBCC (India) Limited have decided to execute projects on a Project Management Consultancy (PMC) or Engineering Procurement Construction (EPC) basis, leveraging their expertise for shared interests.
Bipin Shrimali, Managing Director of Mahapreet, stated: “This collaboration will accelerate redevelopment efforts and provide opportunities for housing complex upgrades. Furthermore, since central government agencies can select developers, the redevelopment will follow the state government guidelines.”
KP Mahadevswamy, Chairman and Managing Director of NBCC, added, “Through the partnership between NBCC (India) in Mumbai and Mahapreet, we will implement redevelopment projects in the Mumbai area, with similar initiatives planned for New Delhi and other states.”
