Maha Govt issues notification on Amnesty Scheme & other measures to complete stuck up rehabilitation projects in Mumbai
New developers to be appointed through tendering
FIs approved by the Reserve Bank of India (RBI) and the Securities Exchange Board of India (SEBI) would be allowed to complete rehabilitation projects in a limbo
The approval of general body of the committee of slum dwellers will not be needed to the appointment of new developers/FIs
The RBI and SEBI-approved FIs will be exempted from the payment of 5 per cent premium.
Scheme is expected to cover 380 slum rehabilitation projects languishing mainly due to financial issues
Mumbai: Finally, after debate and announcements in and outside the state legislature, the Maharashtra Government on Wednesday issued a government resolution on the implementation of Amnesty Scheme and related measures for the speedy completion of languishing slum rehabilitation projects in Mumbai. As per the housing department, there are 380 slum rehabilitation projects stuck up mainly due to financial, procedural and regulatory problems.
As per the government resolution, the new developers will have to be appointed through tendering process in slum rehabilitation projects which are stuck up due to the non-appointment of new developers and also because of lack of payment of rent to the slum dwellers. The projects will be completed through the government approved developers who will have to hand over maximum affordable homes under the sale category to the government.
According to the Amnesty Scheme, the financial institutions (FIs) approved by the Reserve Bank of India (RBI) and the Securities Exchange Board of India (SEBI) would be allowed to complete rehabilitation projects in a limbo. In case of FIs that have already provided funds for the implementation of slum rehabilitation projects, they will be notified as co-developers. The approval of the general body of the committee of slum dwellers will not be needed for the appointment of new developers/FIs.
The RBI and SEBI-approved FIs will be exempted from the payment of 5 per cent premium. The SRA, under the amnesty scheme through advertisements in leading newspapers, will invite applications from the FIs, which will have to submit these in 45 days to take up stalled projects.
Housing Minister Jitendra Awhad told the Free Press Journal, ‘’These new measures including the Amnesty Scheme are path-breaking initiatives. There are various options given for the developers who could not complete the slum rehabilitation schemes due to financial difficulties. With Amnesty Schemes and other measures, the implementation of stuck up slum rehabilitation projects can be expedited in Mumbai.’’
As per the Amnesty Scheme, it will be mandatory for the developers/FIs to complete the rehabilitation portion under the scheme in a given time period. Besides, it will be compulsory for the new developers to regularly pay rent to slum dwellers.
In the first year, the developers/FIs will have to complete 33% work and if delayed they will have to pay 1% of the land required for the construction of the saleable portion. They will have to complete 66% of the work in two years or pay a fine of 2% of the land required for the construction of the saleable portion. They will have to complete the scheme in three years or pay a fine of 2% of the land required for the construction of the saleable portion.
