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Impact of Mumbai (India) Textile Mill Land Development on Land Use and Real Estate Markets
| Content Provider | Semantic Scholar |
|---|---|
| Author | Tiwari, Piyush Kumar Kashyap, Anil Tewary, Shalini |
| Copyright Year | 2007 |
| Abstract | Mumbai has around 2.5 Square Km of land in the heart of the city (8 Km from the CBD) which is owned by 58 cotton textile mills. Since mid seventies a number of these mills have been declared as sick (loss making) units. Urban Land (Ceiling and Holding) Act 1976 prevented owners to sell the land for real estate development. During the last five years, a number of land transactions and large scale commercial real estate development on mill land have taken place. This paper analyzes the institutional and economic factors that have caused the transformation of mill lands from a centre of economic activity to a degenerated belt and again, post 1991, as a regenerated area of economic activities. Sequential changes in the Development Control regulations since 1991 have allowed mill owners to exploit the commercial potential of the land either through a sale or development by themselves. In this context, this paper analyses the impact of development on mill lands on other micromarkets in Mumbai. About the Authors Dr Piyush Tiwari is Senior Lecturer (Property) at the University of Aberdeen Business School, UK. He has published more than sixty papers on issues related to real estate and infrastructure. Other professional responsibilities of Dr Tiwari are Director, Asian Real Estate Society and Associate Editor, International Real Estate Review. Dr Anil Kashyap is Lecturer at School of the Built Environment, University of Ulster, UK. He has past working experience as Divisional Town Planner for 8 years with State Government of Haryana, India. Shashwat Tewary is a professional lawyer working with a leading law firm in the UK. He holds a Law degree from National School of Law, Kolkata. Contact information Dr Piyush Tiwari Senior Lecturer University of Aberdeen Business School Edward Wright Building Dunbar Street Aberdeen AB24 3EH Tel: +44-1224-272359 Fax: +44-1224-272181 Email: p.tiwari@abdn.ac.uk |
| File Format | PDF HTM / HTML |
| Alternate Webpage(s) | https://www.lincolninst.edu/sites/default/files/pubfiles/1299_Tiwari%20Final.pdf |
| Language | English |
| Access Restriction | Open |
| Content Type | Text |
| Resource Type | Article |
