Mumbai’s Manora MLA Hostel Redevelopment Cost Jumps To Over ₹2,000 Crore, Inauguration Target Of Mega Project In Nariman Point Set For March 2028
Mumbai: The redevelopment cost of Mumbai’s Manora MLA hostel complex at Nariman Point has climbed to Rs 2,009 crore from an initial estimate of Rs 862 crore, with additional floor space index (FSI)-related charges, development expenses and interior work contributing to the escalation. The two replacement towers are under construction, and the state government is targeting their inauguration by…
Mumbai's Manora MLA hostel redevelopment cost has surged to over ₹2,000 crore, tripling the initial estimate of Rs 862 crore, as reported by Hindustan Times. This escalation stems from increasing FSI-related charges, development expenses, and interior work. Two replacement towers, each with 14 floors, are under construction, and the state government aims to inaugurate them by March 2028.
The project was initially taken over by the National Buildings Construction Corporation (NBCC) but was later transferred to the state Public Works Department (PWD) in December 2020 after a change in government. Larsen & Toubro (L&T) was awarded the contract in March 2023, and construction costs have since risen to the current estimate of Rs 2,009 crore.
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