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ntc: Govt plans time-bound redevelopment of 11 dilapidated chawls on NTC mills land, Minister Piyush Goyal

The government is looking to expedite the redevelopment of 11 dilapidated chawls on the National Textile Mills’ nearly 14-acre land in Mumbai soon in a time-bound manner, said Union Minister of Textiles, Commerce and Industry, Consumer Affairs and Food and Public Distribution Shri Piyush Goyal.

NTC has appointed a consultant for assistance in the tendering process of redevelopment of these chawls.

The Ministry of textiles has also requested the state government for conversion of five non-cessed chawls to cessed properties so that their timely maintenance could be undertaken by Maharashtra Housing and Area Development Authority (MHADA).

NTC was established in 1968 to manage sick textiles mills through Nationalization Acts of 1974, 1985 and 1995. At present NTC has 23 working Mills, 49 closed Mills, 16 joint venture mills and 2 non-operative mills with around 10,000 employees.

On Sunday, following a review meeting, the minister directed the state government, MHADA and MMRDA officials to speed up redevelopment and rehabilitation and provide assistance to NTC in this process.

Goyal also discussed the issue of sale of NTC’s Transferable Development Rights (TDR).

In March 2017, NTC had transferred 11.96 acres in Dadar to the state government and in lieu had received TDRs worth Rs 1,413.48 crores. The money to be received by the TDR sale in excess of the land’s value will be given to the state government for the memorial’s construction. However, if the money received is less than the land value, the state government will pay NTC.NTC has appointed a consultant for providing transaction advisory services for monetisation of NTC’s TDR.

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