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.

Resources

21 Nov 2025

Hindustan Zinc, RIICO Advance Plans for Proposed Zinc Park

Hindustan Zinc, in collaboration with the Rajasthan State Industrial Development & Investment Corporation (RIICO), held a stakeholder consultation workshop in Jaipur to advance the proposed Zinc Park, the world’s first dedicated industrial ecosystem for zinc, lead, silver, and allied metals. The initiative aims to position Rajasthan as a global hub for metals innovation and manufacturing. The workshop brought together policymakers, industrial leaders, MSMEs, technology partners, and prospective investors to refine the park’s infrastructure blueprint, policy framework, and sectoral..

ANAROCK Unveils AI Platform to Transform Housing Sales

ANAROCK has recently launched ANAROCK.AI, an advanced residential sales platform integrating generative and predictive AI to accelerate property transactions and strengthen customer engagement. Built on eight years of proprietary data covering seven million enquiries and 90,000 unit sales, the platform uses machine learning to identify high-intent buyers, revive dormant leads, and enhance channel partner performance. The suite comprises nine tools across three segments—Genie Suite for 24/7 conversational engagement; Astra Suite for predictive lead scoring, sales revival and team optimisatio..

Tsuyo, Karnataka Ink LOI for EV Powertrain Facility

Tsuyo Manufacturing has recently signed a Letter of Intent with the Government of Karnataka to set up an advanced EV powertrain manufacturing facility and a dedicated testing track for commercial vehicles. The agreement was formalised at the Bengaluru Tech Summit 2025 in the presence of senior state officials and company leadership. The proposed plant will produce a wide range of powertrain solutions, including electric motors across multiple topologies, e-drives, e-axles, automatic transmissions, integrated systems, and complete powertrain assemblies for heavy commercial EVs. It will also fe..