India, Oct. 30 -- Kamathipura's redevelopment is inching closer to reality with the Maharashtra Housing & Area Development Authority (MHADA) receiving interest from two companies to undertake the massive project, which promises to alter the skyline of the Mumbai Central area.

Earlier this year, MHADA floated tenders for the revamping of two large areas of south Mumbai, Abhyudaya Nagar and Kamathipura, through the Construction and Development Agency model. Under this, a company would be appointed to undertake the entire process - from redeveloping the existing structures, rehabilitating residents and commercial stakeholders, to building new housing stock. The appointed company has the mandate for Initial planning, construction and sales....