MHADA approves redevelopment of old buildings in Mumbai
18 Nov 2021
2 Min Read
CW Team
The Maharashtra Housing and Area Development Authority (MHADA) has approved the redevelopment of old buildings for increasing revenue levels from fees and premiums from April to August 2021.
The agency has collected Rs 1,171.86 crore from this process, against Rs 261.38 crore during the same period last year.
Since the beginning of the Covid-19 pandemic, MHADA has collected more than Rs 1,433 crore as a total revenue collection from housing agencies. From April 2020 and August 2021, MHADA has approved 193 redevelopment projects, compared to 162 projects between 2017-2020.
According to MHADA officials, the fast approvals and 50% discount on premiums offered by the state government has helped the builders, and it was a reason behind the push for redevelopment.
Builders pay a premium to MHADA for getting more construction space and concession in rules of having large open spaces and staircases.
Minister of Housing Jitendra Awhad said that he was pushing fast redevelopment of oil and dilapidated MHADA-led buildings and the agency asked to issue an offer letter in a time-bound way.
He added that the agency had cleared many stalled projects and had given out offer letters, making way for many redevelopment projects, including Patra Chawl, Chikhalwadi, Motilal Nagar and BDD chawls. People living in old buildings will get new homes due to the fast-track redevelopment approvals.
There are nearly 14,000 old buildings in the city, and many require a quick redevelopment.
Also read: MHADA approves redevelopment of Old Chikhalwadi chawl in Mumbai
The Maharashtra Housing and Area Development Authority (MHADA) has approved the redevelopment of old buildings for increasing revenue levels from fees and premiums from April to August 2021.
The agency has collected Rs 1,171.86 crore from this process, against Rs 261.38 crore during the same period last year.
Since the beginning of the Covid-19 pandemic, MHADA has collected more than Rs 1,433 crore as a total revenue collection from housing agencies. From April 2020 and August 2021, MHADA has approved 193 redevelopment projects, compared to 162 projects between 2017-2020.
According to MHADA officials, the fast approvals and 50% discount on premiums offered by the state government has helped the builders, and it was a reason behind the push for redevelopment.
Builders pay a premium to MHADA for getting more construction space and concession in rules of having large open spaces and staircases.
Minister of Housing Jitendra Awhad said that he was pushing fast redevelopment of oil and dilapidated MHADA-led buildings and the agency asked to issue an offer letter in a time-bound way.
He added that the agency had cleared many stalled projects and had given out offer letters, making way for many redevelopment projects, including Patra Chawl, Chikhalwadi, Motilal Nagar and BDD chawls. People living in old buildings will get new homes due to the fast-track redevelopment approvals.
There are nearly 14,000 old buildings in the city, and many require a quick redevelopment.
Image Source
Also read: MHADA approves redevelopment of Old Chikhalwadi chawl in Mumbai
Next Story
MoHUA Plans New Role for Smart City SPVs
In a significant policy move, the Ministry of Housing and Urban Affairs (MoHUA) has issued an advisory encouraging the continued use and repurposing of Special Purpose Vehicles (SPVs) formed under the Smart Cities Mission (SCM). This marks a step toward sustaining urban transformation by leveraging institutional capabilities and infrastructure developed over the past decade.Initiated in 2015, the Smart Cities Mission introduced a new era of urban planning in India, with each of the 100 selected cities forming SPVs under the Companies Act, 2013. These entities, jointly owned by state government..
Next Story
ADB Approves $110 Million Loan to Boost Skills in Gujarat
The Asian Development Bank (ADB) has approved a USD 109.97 million (Rs 9.27 billion) results-based loan to support Gujarat鈥檚 efforts to become a global industrial hub by developing a future-ready, skilled workforce.The funding will back the Gujarat skills development programme, led by the Department of Labour, Skill Development and Employment in collaboration with Kaushalya: The Skill University (KSU). The initiative aims to equip the workforce with advanced, industry-aligned skills to meet rising employment demand in high-growth sectors.According to ADB, the programme seeks to strengthen in..
Next Story
SDAL Tests Rudrastra UAV and Bhargavastra Defence System
Solar Defence and Aerospace Limited (SDAL) has successfully completed a key flight test of its indigenous Hybrid VTOL UAV Rudrastra at the Pokharan Firing Range, aligning with Indian Army performance benchmarks for mission adaptability, high endurance, precision engagement, and vertical take-off and landing (VTOL) capability.The trial marks a notable achievement in India鈥檚 Aatmanirbhar Bharat initiative, underscoring advancements in home-grown military technology. The Rudrastra UAV demonstrated a mission radius exceeding 50 km with uninterrupted video relay, a total operational range of over..
