The Union Minister of Textiles, Commerce and Industry, Consumer Affairs and Food and Public Distribution Shri Piyush Goyal held a meeting today (on 15.01.2023) with Govt of Maharashtra (GoM), Mumbai Metropolitan Region Development Authority (MMRDA) and Maharashtra Housing and Area Development Authority (MHADA) Officials in Mumbai to review the progress of for Redevelopment of Chawls and Sale of Transferable Development Rights (TDR) of National Textile Corporation, a CPSE under MoT.
The CMD of NTC Smt Prajakta Verma set the context by elaborating on the status of the NTC mills and the efforts taken by NTC to collaborate with Government of Maharashtra and MHADA, MMRDA regarding the critical issue of rehabilitation of the resident of the chawls on NTC mill land and the developments regarding the monetization of TDR handed over to NTC in lieu of the transfer of land of Indu Mills no. 6 to Govt of Maharashtra, for the construction of the memorial in honour of Bharat Ratna Dr. Baba Saheb Ambedkar.
NTC was established in 1968 to manage Sick Textiles Mills through the Nationalization Acts of 1974, 1985, and 1995. At present NTC has 23 working Mills, 49 closed Mills (under ID Act), 16 JV mills, and 2 non-operative mills with approximately 10000 employees. There are 11 Chawls of NTC Mills in Mumbai in dilapidated conditions covering an area of 13.84 acres. Redevelopment of Mumbai Mills’ Chawls building is mandatory for the land owner (NTC) as per DCPR 2034 provisions.
In order to protect the life of residents of these Chawls and to comply with the DCPR provisions, NTC has appointed a Consultant for providing services for conceptualizing the development potential, preparing methodology, preparation of tender documents for the appointment of developer, and assistance in tendering process of redevelopment of NTC Chawls.
The Consultant has started working on developing a suitable methodology for the redevelopment of NTC Chawls in consultation with empaneled architects of MHADA. MoT has also requested GoM for the conversion of 5 non-cessed Chawls to cessed Chawls so that timely maintenance of these chawls could be undertaken by MHADA.
During the discussions, Hon’ble Minister directed GoM, MHADA, and MMRDA officials to expedite the process of redevelopment and rehabilitation and provide all necessary assistance to NTC in this endeavor.
The issue of Sale of NTC’s TDR was also deliberated. NTC had transferred 11.96 Acres of land of Indu Mill No.6 (Dye Works) to GoM on 25.03.2017 for the construction of the memorial of Dr. Baba Saheb Ambedkar. In lieu of said transfer, GoM issued the Development Right Certificate (DRC) in form of Transferable Development Rights valued at Rs. 1413.48 crores. The money received by NTC through the sale of TDR beyond the said land valuation shall be given to the Govt of Maharashtra for the construction of the Memorial and if the money received is less, the difference shall be paid in terms of money to NTC by GoM.
A Consultant has been appointed for providing transaction advisory services for the Sale of NTC’s TDR including market research, preparation of the tender document, exploring prospective buyers, advising NTC about the market trend, quantum of TDR to be put on sale, maximization of revenue, other modalities, etc. Hon’ble Minister directed MMRDA officials to work in co-ordination with NTC and assist NTC in the process of monetization of TDR.