SRA builders complete highest number of projects in two years

24 Aug 2021 CW Team

Builders completing redevelopment projects under the Slum Rehabilitation Authority (SRA) have recovered from after the Covid-19 pandemic.

While a record number of SRA projects got approved between March 2019 and April 2021, it completed the highest number of projects too during this period.

As per the data from SRA, between March 2019 and April 2021, 516 Letters of Intent (LoIs) were issued, comprising those that were re-issued since they were stuck for a long time and 82 new ones. 184 LoIs were issued from April 2017 to March 2019. A builder can start slum plot redevelopment only after an LoI is issued by the agency.

Satish Lokhande, SRA CEO, told the media that they have not just issued fresh LoIs, but also issued updated LoIs in certain cases where projects were stuck and have fast-tracked methods in the SRA. The goal is to guarantee that the maximum number of slum dwellers are rehabilitated as soon as possible. They are bringing in many changes to expedite this.

In December 2020, the agency started sending notices to developers who have failed to begin their projects even after getting necessary clearances.

The SRA issued occupation certificates between March 2019 and April 2021 to 28,162 slum rehabilitation units, 8,602 in 2019-20, 13,875 in 2020-21 and 5,685 in April 2021. From April 2017 to March 2019, 26,422 OCs were given. Once an OC is granted, the project is considered complete, and original tenants can move into the new units.

Recently, Housing minister Jitendra Awhad told the media that he was pushing to fast-track SRA projects and that the agency would acquire the projects where the developer has failed to rehabilitate the slum dwellers.

As per the data, between March 2019 and April 2021, about 2 lakh slum tenements got approved, of which 48,104 were sanctioned in 2021 alone. Only 53,409 slum tenements got approved between April 2017 and March 2019.

About 2.1 lakh families have received new homes in the 23 years since the SRA was established. As per the SRA estimates, there are 12.5 lakh slums in Mumbai housing 62 lakh people. In December 2020, the state government had established a 10-member committee to guarantee quick disposal of complaints pending with the SRA, comprising cases of corruption and red-tapism. As per the officials, projects are held for several reasons, comprising lack of funds or complaints by tenants against the builder. As per the estimates, one lakh slum dwellers were affected by the dead SRA projects.

Image Source

Also read: New Delhi residential prices drop 0.2% YoY: Knight Frank report

Also read: Ajmera Realty targets Rs 4,000 cr revenue in three to four years

Builders completing redevelopment projects under the Slum Rehabilitation Authority (SRA) have recovered from after the Covid-19 pandemic. While a record number of SRA projects got approved between March 2019 and April 2021, it completed the highest number of projects too during this period. As per the data from SRA, between March 2019 and April 2021, 516 Letters of Intent (LoIs) were issued, comprising those that were re-issued since they were stuck for a long time and 82 new ones. 184 LoIs were issued from April 2017 to March 2019. A builder can start slum plot redevelopment only after an LoI is issued by the agency. Satish Lokhande, SRA CEO, told the media that they have not just issued fresh LoIs, but also issued updated LoIs in certain cases where projects were stuck and have fast-tracked methods in the SRA. The goal is to guarantee that the maximum number of slum dwellers are rehabilitated as soon as possible. They are bringing in many changes to expedite this. In December 2020, the agency started sending notices to developers who have failed to begin their projects even after getting necessary clearances. The SRA issued occupation certificates between March 2019 and April 2021 to 28,162 slum rehabilitation units, 8,602 in 2019-20, 13,875 in 2020-21 and 5,685 in April 2021. From April 2017 to March 2019, 26,422 OCs were given. Once an OC is granted, the project is considered complete, and original tenants can move into the new units. Recently, Housing minister Jitendra Awhad told the media that he was pushing to fast-track SRA projects and that the agency would acquire the projects where the developer has failed to rehabilitate the slum dwellers. As per the data, between March 2019 and April 2021, about 2 lakh slum tenements got approved, of which 48,104 were sanctioned in 2021 alone. Only 53,409 slum tenements got approved between April 2017 and March 2019. About 2.1 lakh families have received new homes in the 23 years since the SRA was established. As per the SRA estimates, there are 12.5 lakh slums in Mumbai housing 62 lakh people. In December 2020, the state government had established a 10-member committee to guarantee quick disposal of complaints pending with the SRA, comprising cases of corruption and red-tapism. As per the officials, projects are held for several reasons, comprising lack of funds or complaints by tenants against the builder. As per the estimates, one lakh slum dwellers were affected by the dead SRA projects. Image Source Also read: New Delhi residential prices drop 0.2% YoY: Knight Frank report Also read: Ajmera Realty targets Rs 4,000 cr revenue in three to four years

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