The Maharashtra State Housing and Area Authority (Mhada) board will soon come up with a rule book that will prevent developers from abandoning redevelopment projects.
The chief executive officer of Mhada (Mumbai) Yogesh Mhase, said, “We have framed a policy that will have a criteria for developers who will have to agree with it while undertaking a redevelopment project. Failing which, the developer will not be given any work from Mhada.”
This move comes in order to curb developers from halting redevelopment projects midway. Several redevelopment projects across the city have been left half way by the developers for various reasons, including finance constrains.
Mhase said that the proposed policy has been sent to the state government for a final approval. “If it is cleared, it will provide relief to tenants of such projects. It will also deter developers from stopping rent payments to project-affected tenants, which is a common complaint,” he said.
Meanwhile, he said that the said policy is different from the one which is pending for approval from the President’s office.
The Mumbai board of Mhada was given the status of a ‘Planning Authority’ in order to facilitate the speedy implementation of affordable housing schemes. Therefore, the proposed policy will be of great help believe the officials of this office.
