MHADA approves redevelopment of old buildings in Mumbai
Real Estate

MHADA approves redevelopment of old buildings 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

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
Infrastructure Energy

South West Pinnacle Wins Rs 30 Cr Oman Mining Contract

South West Pinnacle Exploration Ltd has secured a Rs 30 crore contract from Minerals Development Oman (MDO) for mining exploration in concession areas 12B and 13.The two-year project will be carried out via Alara Resources LLC, a JV in Oman. MDO, backed by Oman’s investment authorities, focuses on monetising mineral wealth.The contract covers copper, gold, and chromite and highlights South West Pinnacle’s growing footprint in international exploration and mining services. ..

Next Story
Equipment

Godrej GEG Boosts Intralogistics with AI and Green Tech

Godrej Enterprises Group (GEG) is revolutionising warehouse and factory logistics through its Material Handling Equipment and Storage Solutions arms by integrating AI, IoT, and automation.With 20–25% market share and 85% local sourcing, GEG champions Atmanirbhar Bharat and sustainability. The Chennai plant, a green manufacturing leader, uses RoHS-compliant materials and has slashed energy consumption by 60%.GEG serves e-commerce, FMCG, retail, and cold chains with high-performance racking and electric forklifts. Upcoming IoT-enabled forklifts and telematics solutions aim to improve speed, sa..

Next Story
Infrastructure Urban

Amit Shah Inaugurates Key Projects Across Gujarat

Union Home Minister Amit Shah inaugurated and laid the foundation stone for various projects in Gujarat’s Panchmahal district and Ahmedabad.In Godhra, he inaugurated the Center of Excellence building, sports complex, reservoir, and Miyawaki plantation. In Ahmedabad, he unveiled a new cooperative complex in Adaroda village and a primary school in Juwal.These projects, under the Model Co-op Village scheme, aim to boost education, sustainability, and rural development across the state. ..

Advertisement

Advertisement

Subscribe to Our Newsletter

Get daily newsletters around different themes from Construction world.

STAY CONNECTED

Advertisement

Advertisement

Advertisement

Advertisement

Talk to us?