India, April 27 -- The state government on Friday notified the redevelopment of two mega-redevelopment projects - 52 buildings owned by the Maharashtra Housing and Area Development Authority (MHADA) at Bandra Reclamation and 58 buildings at Adarsh Nagar in Worli.

According to the order, a builder will be appointed to execute both projects, a windfall considering these are not only large housing colonies but also located at some of Mumbai' premium addresses.

The government has granted floor space index (FSI) of 4 for both projects. The developer, who will be appointed through a tendering process, will have to get the consent of just 51% of the residents of each colony, to secure development rights.

Both housing colonies were built betwe...