Former BMC commissioner Ajoy Mehta buys Nariman Point flat for Rs 5.3 crore – ET RealEstate

BY: Varun Singh

MUMBAI: Former municipal commissioner Ajoy Mehta, who was also the chief secretary of the state, has recently bought a flat in Nariman Point for Rs 5.3 crore. Mehta is currently the chief advisor to Chief Minister Uddhav Thackeray.

The flat that Mehta bought is located on the 5th floor of Samata Co-operative Housing Society, on General Jagannath Bhosale Marg near Mantralaya. The carpet area of the flat is 1,076 square feet. The deal was finalised in October. Along with the apartment, Mehta has got two car parking spots in the building.

Mehta confirmed the deal to Mirror and added that he had bought it at market rate and that the documents are in the public domain. The market price of the flat is Rs 5.33 crore.

Mehta paid Rs 2.76 crore via RTGS, Rs 2.5 crore has been paid by him via a post-dated cheque of October 4, 2021. Rs 3.97 lakh (Rs 3,97,500) has been deducted as tax at source.

According to documents available, the stamp duty of Rs 10.68 lakh has been paid by the seller, Anamitra Properties Pvt Ltd, based in Pune. Anamitra Properties bought this flat in 2009, for Rs 4 crore from Ashish Manohar, son of late Justice Sharad Manohar. Ashish was the only legal heir of Justice Manohar, who died on October 4, 2000. The wife of Justice Sharad Manohar and his daughter had died earlier.

The Mumbai collector, on August 28, 2020, had granted the seller permission to transfer the flat by paying a transfer fee of Rs 16.80 lakh. This amount was also paid by the seller of the property. The seller, Anamitra Properties, did not respond to a detailed email sent to them regarding the deal.

About Mehta Mehta, a 1984 batch IAS officer, took over as the state chief secretary in May 2019. Before that, he had served as BMC commissioner for four years. He was to retire on September 30, 2019, but in view of the 2019 assembly polls, he was given an extension of six months, which was ending on March 31. He then got another extension, this time for three months, due to the Covid-19 pandemic. He retired on June 30. He was then appointed as principal advisor of Chief Minister Uddhav Thackeray.

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After EP gets cleared, Mumbai development plan 2034 to be finalised in October – ET RealEstate

MUMBAI: The Exclusion Plan (EP) for the Development Plan 2034 has been cleared and the DP will be finalised by October. EPs are portions of the plan to which the government made substantial changes after it was submitted by the BMC.

Principal Secretary of Urban Development Department Bhushan Gagrani said, “Prior to my taking over, Praveen Pardeshi had cleared nearly 150 proposals and I have cleared nearly 750 of them. I will be submitting them to the government for final nod. The entire thing will be cleared by October.”

The DP was formulated by then municipal commissioner Ajoy Mehta, then UD secretary Nitin Kareer and then additional chief secretary to CM Praveen Pardeshi. The plan is being implemented by BMC.

The state government had sanctioned the Mumbai Development Control and Promotion Regulations 2034 (DCPR) in 2018. The Development Plan 2034 seeks to open up 3,700 hectares of land that was earlier designated as no-development zone (NDZ) for construction of residential real estate and homebuyers can expect housing units of 30 sq m to be available in the range of Rs 60 lakh to Rs 75 lakh. Apart from this land, an additional 300 hectares of salt pan land will also be available for affordable housing. About 10 lakh affordable houses will be built on these lands by 2034.

Experts say that going forward, with more housing stock getting added in the affordable category, prices may correct by 10 to 15 per cent but this is possible only if the increased Floor Space Index (FSI), promised under the blueprint for the city’s development for the next 16 years, is available at rational prices and not at a premium.

Builder Niranjan Hiranandani welcomed the move, saying, “This has been pending since a long time. It’s good that the EP is being cleared now. It will help development of Mumbai.”

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