Maharashtra Forms Authority to Boost Self-Redevelopment

03 Oct 2025 CW Team

The Maharashtra government on Monday set up a Self-Redevelopment Authority to help citizens redevelop old buildings without relying on builders, giving a major push to housing societies in Mumbai and the Mumbai Metropolitan Region (MMR).

BJP legislator Pravin Darekar, who also heads the Mumbai District Central Cooperative Bank, has been appointed president of the new body and accorded ministerial status. Darekar has long advocated self-redevelopment through the cooperative banking system.

The decision follows the state cabinet’s approval of the New Housing Policy four months ago, which included the creation of a dedicated support cell and allocated Rs 20 billion for the initiative. The authority will provide end-to-end assistance, including planning, funding, developer selection and execution, enabling societies to manage projects independently, a housing department official said.

While Monday’s order did not detail the authority’s structure, officials indicated that a second notification would clarify membership and functioning.

According to CREDAI-MCHI, more than 25,000 buildings across MMR are eligible for redevelopment, representing a project value of over Rs 300 billion.

Chief Minister Devendra Fadnavis has already waived interest on premiums for self-redevelopment projects until March 2026 and announced subsidised loans for housing societies. He also sought Union Cooperation Minister Amit Shah’s support through the National Cooperative Development Corporation.

Darekar had earlier chaired a study group to examine challenges in self-redevelopment, which recommended granting societies an additional 10 per cent carpet area and extending the scheme to cluster redevelopment. It also proposed reducing the minimum project area requirement from 4,000 sq m to 2,000 sq m.

Infrastructure Urban

03 Oct 2025

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