Ghatkopar redevelopment project: MMRDA secures loan worth Rs 1,500 crore
Mumbai Metropolitan Region Development Authority (MMRDA) has secured a loan of Rs 1,500 crore from the Bank of Maharashtra. The loan is for the redevelopment of Ramabai Ambedkar Nagar and Kamaraj Nagar in the Ghatkopar suburb of Mumbai.
The project aims to transform a densely populated slum cluster in the eastern suburb into a well-planned residential township. This would be MMRDA’s first direct slum redevelopment project, and the first major financial closure for the Rs 8,498-crore project under the Slum Rehabilitation Authority (SRA) scheme.
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