Another two bite the dust

Two of the city's oldest settlements, Gaiwadi and Tarabaug, are all set to undergo redevelopment, as owners to float tenders for the plots on September 17

Another two bite the dust

Two of the city's oldest settlements, Gaiwadi and Tarabaug, are all set to undergo redevelopment, as owners to float tenders for the plots on September 17

Mumbai is all set to lose a slice of its old-school charm and traces of colonial rule, as the city's two iconic places Gaiwadi and Tarabaug are up for grabs.
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Shri Bombay Panjarpole Trust, the owner of the land, has decided to sell the plots and has called in for tenders from builders starting September 17.

It seems that the trust is desperate to sell the plots so as not to lose out on a profit, as, in the past, the tenants of the area started approaching builders on their own to sell their respective houses.

"We did not want to sell the plots but after tenants started to approach builders on their own thinking they were the landlords, we decided to sell the land ourselves," said an office bearer.

Further elaborating on the sale of the land, the office bearer said that the trust was receiving a rent of Rs 4.5 lakh a month but maintenance and other expenses were tallying up to Rs 32 lakh.
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"The rent of a tenant is anywhere between Rs 120-150. However, we pay the electricity bill and even maintenance costs of the common toilets."

The office bearer said that the move had been taken keeping the needs and benefits of the tenants in mind, as redevelopment would mean bigger homes for the residents. However, people living in the area don't feel too optimistic about the redevelopment plans.

"It's good if the redevelopment project starts. But because there are so many tenants there will be no single point agenda," said Purshottam Dabke, a resident.

Another resident claims that if the redevelopment takes place, then many middle class tenants will have to leave the place, as they won't be able to pay the maintenance of the high rise.

"Unless they make chawls like the one we are currently staying in, the project wouldn't benefit us. We are middle class people and can't afford the maintenance of high rises," said Shirish Malgunkar, another resident.

No more old school
The entrance of Gaiwadi has two statues of cows, which some say is the reason that the area is called so but there are some who say that Gaiwadi was previously cow sheds. However, the sale of Gaiwadi and Tarabaug, is reminiscent of the sale of the heritage bungalows in Khotachi wadi where most houses gave way to high rises.

Rs 480 crore
Estimated market price of Gaiwadi and Tarabaug

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