18 May,2009 11:28 AM IST | | Varun Singh
2,700 property owners vow not to depend on builders and say...
We've heard politicians promsise to turn Mumbai into Shanghai. Now, it's the turn of the property owners. More than 2,700 property owners, belonging to the Property Owners Association (POA) have agreed to redevelop the nearly 10,000 cessed buildings they own in Mumbai. They claim that they can make the city better than Shanghai in 10-15 years with this initiative.
Said B R Bhattad, the vice-cum-executive president of POA, "Property owners will develop nearly 10,000 buildings. Owners of another 7,000 buildings (who are non-POA members) are also aligning with us. We will not depend on builders anymore. We will develop the city into a world-class one." Most of the buildings will have 20-30 storeys, whereas approximately 30 per cent will have 45-50 storeys. The POA has already empanelled architects and contractors whom the owners can choose for redeveloping their buildings.
More flats
"The property owners will allocate flats to the tenants and also build extra flats that will be sold," said Bhattad. With this move, the property owners hope that builders who are eyeing their dilapidated properties will back off.
However, builders are of the opinion that the property owners are responsible for buildings collapsing in the city.
"These owners have been handling these properties for more than 60 years now, but have done nothing," said Lok Group's Mayank Gandhi, secretary of Remaking of Mumbai Federation.
