BJP MLC Pravin Darekar announced that the self-redevelopment initiative for housing societies in Maharashtra has become a popular, people-driven movement, enjoying growing public interest and administrative backing
BJP MLC Pravin Darekar. File Pic.
The self-redevelopment initiative for housing societies has transformed into a people-driven movement, with growing public interest and administrative support across Maharashtra, BJP MLC Pravin Darekar has said.
Darekar, who also heads the Mumbai District Central Cooperative Bank, said self-redevelopment is about empowering societies to build without developers.
He was speaking at a self-redevelopment guidance camp held at Vasai, Palghar district on Sunday.
"Self-redevelopment is not a technological challenge. It is about empowering societies to build without developers. If housing societies are financially supported and backed by the government, there is no need to depend on private builders," he said.
The BJP leader said that the Mumbai District Bank introduced a loan policy for self-redevelopment, but it became clear that government support was vital for its success.
As many as 20 buildings have already been completed under the Mumbai Bank initiative, he said.
Darekar headed the Self-Redevelopment Group Self-Redevelopment Study Committee, which recently presented its report.
Drawing parallels to the landmark SRA initiative for slum redevelopment, Darekar expressed confidence that the committee's work would lay a strong foundation for self-redevelopment across urban Maharashtra.
He noted that Mumbai Bank has received 1,600 proposals, and due to its capacity limits, funds have been arranged through the State Cooperative Bank (Rs 1,500 crore) and NCDC (Rs 1,000 crore).
An in-principle approval has also been granted to establish a dedicated Self-Development Finance Corporation, which is expected to expedite the redevelopment process, he said.
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