The Maharashtra government has established a Self-Redevelopment Authority to support citizens in independently redeveloping old buildings, marking a major policy step for Mumbai and the surrounding metropolitan region.

BJP legislator and Mumbai District Central Cooperative Bank president Pravin Darekar will head the new Authority, which will offer end-to-end guidance on project planning, funding, developer selection, and execution. The initiative follows the approval of the state’s New Housing Policy earlier this year, which allocated Rs 2,000 crore to promote self-redevelopment.

Officials said the Authority aims to empower cooperative housing societies and reduce dependency on private builders. Over 25,000 buildings in the MMR are eligible for redevelopment, with an estimated value exceeding Rs 30,000 crore.

The state has already waived interest on premiums for such projects until March 2026 and plans to offer subsidised loans to participating societies.