Palghar: The self-redevelopment model for housing societies is rapidly evolving into a people-driven movement in Maharashtra, thanks to growing public participation and increasing government support, said BJP MLC and Mumbai District Central Cooperative Bank chairman Pravin Darekar.
Speaking at a self-redevelopment guidance camp in Vasai, Palghar district on Sunday, Darekar emphasized that self-redevelopment is less of a technical challenge and more about empowering residents.
“It’s about enabling housing societies to redevelop their buildings independently, without relying on private builders. With financial support and government backing, societies can take control of their own future,” he said.
Highlighting efforts by the Mumbai District Bank, Darekar noted that a special loan policy was introduced to facilitate self-redevelopment. While the initiative has led to the successful completion of 20 buildings, he stressed that sustained government support is essential for broader implementation.
Darekar, who also chaired the Group Self-Redevelopment Study Committee, recently submitted its report to the state government. He drew a comparison with the landmark Slum Rehabilitation Authority (SRA) initiative, expressing confidence that the new self-redevelopment framework could have a similarly transformative impact on urban housing across Maharashtra.
So far, the Mumbai District Bank has received over 1,600 redevelopment proposals. To address funding limitations, additional support of ₹1,500 crore has been arranged through the State Cooperative Bank and another ₹1,000 crore from the National Cooperative Development Corporation (NCDC).
Darekar further revealed that the state government has given in-principle approval for setting up a dedicated Self-Development Finance Corporation, which is expected to accelerate and streamline the self-redevelopment process for housing societies across the state.
