CMFadnavis launches scheme for self-redevelopment

Mumbai: The chief minister of Maharashtra, Devendra Fadnavis, on Monday  launched a ‘self-redevelopment scheme’ that would allow the members of housing societies to redevelop their old buildings. This scheme would help flat owners to get quality work, within the stipulated time along with necessary suggestions.

‘Self-redevelopment scheme’ is an initiative by the Mumbai district cooperative bank; the bank believes that this would reduce the hassle faced by residents because of developers and builders while undergoing a redevelopment project. “The officials of Mhada (Maharashtra Housing and Area Development Authority) should form a ‘single-window system’ in coordination with the Brihanmumbai Municipal Corporation (BMC). This will expedite the procedure of getting permissions for the flat owners and all the approvals will be given easily,” Mr Fadnavis said at the event. Pravin Darekar, chairman of Mumbai Co-operative Bank, was also present during the launch of the scheme on Monday.

Under the said scheme, the bank would provide the required funds and deposit amount to the flat owners. During the event, Mr Fadnavis directed Mhada and Mumbai District Bank to conduct workshops for the flat owners so that they know about self-redevelopment loan policy and the permissions required for the same. “Mhada in coordination with the civic body should create a panel consisting of architects, consultants and contractors for the benefit of flat owners,” said Mr Fadnavis.

The scheme allows redevelopment without the requirement of a builder, wherein the flat owners will have the liberty to select their architects, consultants as well as contractors. Sometimes, builders delay the redevelopment scheme and leave the residents in a fix, thus the ‘self-redevelopment scheme’ will prove a relief for the flat owners who are looking for redevelopment. According to the bank, around 2,000 redevelopment projects in the city are stalled because of the builder leaving the project mid way.