Revival plan for Stalled Mumbai Slum Projects in joint venture
Real Estate

Revival plan for Stalled Mumbai Slum Projects in joint venture

The Slum Rehabilitation Authority, in collaboration with the BMC and various special planning authorities, is set to revive ten slum redevelopment initiatives in Mumbai that have languished for 10-15 years. These joint efforts come in response to the failure of private developers to fulfil their promises of providing free housing to hundreds of thousands of slum residents. Notably, the Mumbai Metropolitan Region alone demands an estimated 1.1 million affordable homes.

An eight-member committee, led by the housing secretary, will evaluate the projects slated for redevelopment through this collaborative venture.

In a significant development, the state housing department has issued a Government Resolution (GR) permitting the completion of stalled slum rehabilitation projects spanning Mumbai, Thane, and the Mumbai Metropolitan Region through partnerships with local self-government entities and specialised planning authorities such as MHADA, MMRDA, CIDCO, and others.

According to the GR, the financing for these projects will be entirely borne by the respective local self-government bodies or specialised planning authorities. Neither the SRA nor the state government will contribute funds to these endeavours. Valuation of existing construction will be conducted, and the local authority will reimburse the original builder. Both the rehabilitation and sale components of these projects will be undertaken by the local authorities. The units in the sale component will be made available in the open market under the government's 'Housing for All' initiative, with the proceeds from flat sales allocated to fund the project.

It is important to note that most of the stalled projects marked for transfer to the local bodies are situated on land owned by these entities. Nevertheless, a thorough assessment of the scheme's financial and technical feasibility will be carried out before handing it over to the local body, as stipulated in the GR.

The Slum Rehabilitation Authority, in collaboration with the BMC and various special planning authorities, is set to revive ten slum redevelopment initiatives in Mumbai that have languished for 10-15 years. These joint efforts come in response to the failure of private developers to fulfil their promises of providing free housing to hundreds of thousands of slum residents. Notably, the Mumbai Metropolitan Region alone demands an estimated 1.1 million affordable homes. An eight-member committee, led by the housing secretary, will evaluate the projects slated for redevelopment through this collaborative venture. In a significant development, the state housing department has issued a Government Resolution (GR) permitting the completion of stalled slum rehabilitation projects spanning Mumbai, Thane, and the Mumbai Metropolitan Region through partnerships with local self-government entities and specialised planning authorities such as MHADA, MMRDA, CIDCO, and others. According to the GR, the financing for these projects will be entirely borne by the respective local self-government bodies or specialised planning authorities. Neither the SRA nor the state government will contribute funds to these endeavours. Valuation of existing construction will be conducted, and the local authority will reimburse the original builder. Both the rehabilitation and sale components of these projects will be undertaken by the local authorities. The units in the sale component will be made available in the open market under the government's 'Housing for All' initiative, with the proceeds from flat sales allocated to fund the project. It is important to note that most of the stalled projects marked for transfer to the local bodies are situated on land owned by these entities. Nevertheless, a thorough assessment of the scheme's financial and technical feasibility will be carried out before handing it over to the local body, as stipulated in the GR.

Next Story
Infrastructure Energy

Kochi Set To Commission South India’s First Hydrogen Station

Kerala is gearing up to embrace the fuel of the future — green hydrogen, with South India’s first green hydrogen plant and refuelling station nearing commissioning on the Cochin International Airport (CIAL) premises. The project marks a major milestone in India’s clean energy transition and could soon power the Kochi Water Metro and selected e-feeder services of the Kochi Metro.The project is being implemented by Bharat Petroleum Corporation Limited (BPCL) in collaboration with CIAL, featuring a 1,000-kilowatt facility at Nedumbassery. BPCL has also finalised plans for a second hydrogen ..

Next Story
Infrastructure Urban

Rajasthan Adds 135 New Buses To Strengthen Public Transport

Rajasthan Chief Minister Bhajan Lal Sharma on Sunday flagged off a new fleet of Rajasthan Roadways buses from Amar Jawan Jyoti, marking a significant step towards modernising the state’s public transport network. The Chief Minister inaugurated 128 Blue Line buses and seven rural buses, designed to enhance connectivity and improve travel comfort across the state.The event was attended by Deputy Chief Minister Dr Premchand Bairwa and Member of Parliament Manju Sharma. The new fleet complies with the latest emission standards and incorporates modern technology to ensure efficiency and environme..

Next Story
Infrastructure Transport

Patna Joins India’s Metro Map With Blue Line Launch

Patna, the capital of Bihar, officially joined India’s growing list of metro cities as Chief Minister Nitish Kumar inaugurated the first phase of the Patna Metro Rail on Monday. The inaugural section of the Blue Line runs from the Inter-State Bus Terminal (ISBT) to Bhoothnath, covering three key stations — Patliputra ISBT, Zero Mile, and Bhoothnath.The inaugural ceremony was held at the Patliputra Bus Depot, attended by Deputy Chief Ministers Samrat Choudhary and Vijay Kumar Sinha. Passenger services are set to commence from Tuesday.For now, commuters will be able to travel along a 4.3-kil..

Advertisement

Subscribe to Our Newsletter

Get daily newsletters around different themes from Construction world.

STAY CONNECTED

Advertisement

Advertisement

Advertisement

Talk to us?