+
 Maharashtra to reallocate stuck slum projects to new builders
Real Estate

Maharashtra to reallocate stuck slum projects to new builders

Maharashtra is set to reallocate stuck slum redevelopment projects to new builders in a move that can potentially give relief to up to 40,000 families.

Nationalist Congress Party (India) (NCP) leader and minister Jitendra Awhad told the media that the Slum Rehabilitation Authority (SRA) has cancelled 520 such stalled projects. It would be handed over to new developers after evaluating their financial strength and commitment to take it to a logical end as an amnesty scheme.

Such builders have raised money from financial institutions and for such projects before disappearing and pegged the quantum of money, which is stuck at Rs 35,000 crore, Awhad said.

The minister is aware of builders who have not worked on projects for up to 10-15 years, studying for developers to hand over the project and attempting to make a quick buck.

Newer slum development for gaining floor space index (FSI) will also not be tolerated, which is adopted by many builders.

Awhad said that the state is looking at creating a 26-acre land parcel on which a slum stands in Colaba in South Mumbai and will be looking to collaborate with realty developers for the same.

The minister announced that developers redeveloping Mhada buildings will not have to pay stamp duty upfront and will now be able to pay the sum in a staggered way till the occupation certificate to a project is issued.

The government is keen to improve the pace of project clearance and is working on digitisation and automation to make the whole process free of human intervention in the next six months, Awhad said.

The NCP minister asked corporate entities like Tatas to come forward and create a modern hospital on a 9,000 sq m land plot held by the state government on which it aims to have a healthcare facility.

Image Source

Also read: SRA to launch amnesty scheme to revive 380 stalled slum projects

Maharashtra is set to reallocate stuck slum redevelopment projects to new builders in a move that can potentially give relief to up to 40,000 families. Nationalist Congress Party (India) (NCP) leader and minister Jitendra Awhad told the media that the Slum Rehabilitation Authority (SRA) has cancelled 520 such stalled projects. It would be handed over to new developers after evaluating their financial strength and commitment to take it to a logical end as an amnesty scheme. Such builders have raised money from financial institutions and for such projects before disappearing and pegged the quantum of money, which is stuck at Rs 35,000 crore, Awhad said. The minister is aware of builders who have not worked on projects for up to 10-15 years, studying for developers to hand over the project and attempting to make a quick buck. Newer slum development for gaining floor space index (FSI) will also not be tolerated, which is adopted by many builders. Awhad said that the state is looking at creating a 26-acre land parcel on which a slum stands in Colaba in South Mumbai and will be looking to collaborate with realty developers for the same. The minister announced that developers redeveloping Mhada buildings will not have to pay stamp duty upfront and will now be able to pay the sum in a staggered way till the occupation certificate to a project is issued. The government is keen to improve the pace of project clearance and is working on digitisation and automation to make the whole process free of human intervention in the next six months, Awhad said. The NCP minister asked corporate entities like Tatas to come forward and create a modern hospital on a 9,000 sq m land plot held by the state government on which it aims to have a healthcare facility. Image Source Also read: SRA to launch amnesty scheme to revive 380 stalled slum projects

Related Stories

Gold Stories

Next Story
Real Estate

The Energy-Smart Buildings

Passive design is an integral part of energy-efficient architecture. Sophisticated building systems also contribute to this end. But what role do materials play in enhancing a building’s energy-efficiency?“Material selection is one of the earliest opportunities to influence how a building performs,” says Tejbeer Singh, Principal Architect & Founder, Expressionist by Tejbeer Singh. “The objective is not simply to select materials that look appropriate but to understand how they behave within the climate and construction system.”To read the full article Click Here ..

Next Story
Infrastructure Transport

When the Lowest Bid Comes at a Cost

India's infrastructure sector is building at a scale few markets can match. New highways, expressways, metros, bridges and complex engineering projects are transforming the country's landscape. Yet, behind this rapid expansion is a growing concern within the contracting community: Can infrastructure be delivered sustainably when competition pushes prices below commercially viable levels?For Praveen Sethia, Founder & Director, Infra Advisors, who moderated the discussion, the question goes beyond the contractor's commercial interests. Contractors may be one of the two parties to a contract,..

Next Story
Real Estate

Ultra-Luxury Projects Reshape Gurugram’s Housing Market

Gurugram’s luxury housing market has expanded beyond its traditional prime locations, with corridors such as Dwarka Expressway and Golf Course Extension Road emerging as key centres for premium residential development. Larger homes, integrated developments and amenity-led communities are attracting demand from end-users and investors.A 2025 report by Sotheby’s International Realty in collaboration with CRE Matrix identified Gurugram as India’s fastest-growing ultra-luxury housing market. The city overtook Mumbai in total sales value for homes priced above Rs 10 crore, recording nearly Rs..

Advertisement

Subscribe to Our Newsletter

Get daily newsletters around different themes from Construction world.

STAY CONNECTED

Advertisement

SPECIAL OFFER
QR Code