Maharashtra to reallocate stuck slum projects to new builders

30 Apr 2022 CW Team

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

Equipment

12 Dec 2025

Schwing Stetter India Unveils New Innovations at Excon 2025

Schwing Stetter India unveiled more than 20 new machines at Excon 2025, marking one of its most significant showcases and introducing several India-first technologies to the construction equipment sector. The company launched the country’s first 56-metre boom pump designed and manufactured in India, the first fully electric truck mixer, the first CNG mixer variant and the first hybrid boom pump. Executives said the launch portfolio was engineered to support India’s move toward faster, greener and more vertically oriented infrastructure through advanced engineering, clean-energy solutions a..

SEPC Resolves Hindustan Copper Dispute, Wins Rs 725 Mn Order

Engineering, procurement and construction firm SEPC Ltd has recently settled a dispute with Hindustan Copper Ltd (HCL) and secured a mining infrastructure order valued at Rs 725 million from the state-owned company. SEPC informed the stock exchanges that it has executed a settlement deed with HCL, bringing closure to all inter-se claims and counterclaims arising from arbitration proceedings. As part of the settlement, SEPC will receive Rs 304.5 million as full and final payment, marking the resolution of all pending disputes between the two entities. The company also stated that Hindustan Co..

20% Ethanol Blending Cuts India’s CO2 Emissions by 73.6 Mn Tonnes

Union Road Transport and Highways Minister Nitin Gadkari recently said that India has reduced carbon dioxide emissions by 73.6 million metric tonnes due to the adoption of 20 per cent ethanol blending in petrol. He made the statement while replying to supplementary questions during the Question Hour in the Lok Sabha. Describing ethanol as a green fuel, the minister said it plays a key role in reducing pollution while also supporting higher incomes for farmers. He underlined that ethanol blending contributes both to environmental sustainability and rural economic growth. Nitin Gadkari also po..