The Bhendi Bazaar Redevelopment plan has been selected by the Centre as one of the best smart city projects which will be presented at the meet at Vigyan Bhawan on June 25-26.
The conference will be attended by Urban Development Ministers of States, Mayors and civic chiefs of 500 cities, along with private sector representatives.
At the same event, Prime Minister Narendra Modi will launch two projects, Atal Mission for Rejuvenation and Urban Transformation (AMRUT) and Smart Cities.
"We are confident the project would pave the path for other inner city redevelopment projects in the country," Abbas Master, CEO of Saifee Burhani Upliftment Trust (SBUT), under which the project was launched 6 years back, said today.
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"We look forward to the continued support from various state-level agencies in fast-tracking approval processes and helping in vacating a few non-cooperating tenants to take the project ahead," he added.
Currently, the Rs 4,000-crore venture has received the IOD (Intimation of Disapproval) approval from the Municipal Corporation of Greater Mumbai (MCGM) for the first two sub- clusters.
More than 250 commercial tenants too have been vacated from the area. The project, spread over 16.5 acres, aims to rehabilitate 3,200 families and 1,250 businesses housed in structures which are currently in precarious condition.
However, resistance from a section of landlords, tenants and pending clearances from various state agencies have led to delay in executing the project.