If delayed, the NOC will be treated as deemed approved under the Right to Service Act.MHADA plans to invest Rs 6,609 crore in these initiatives, with private developers expected to contribute around Rs 1.28 lakh crore
As per the new directive, redevelopment proposals with the consent of at least 51 per cent of tenants will now be fast-tracked. Representational pic
In a significant policy announcement aimed at expediting the redevelopment of old cessed buildings in Mumbai, Maharashtra Housing and Area Development Authority (MHADA) Chief Executive Officer Sanjeev Jaiswal on Monday declared that No Objection Certificates (NOCs) for such projects will be issued within six weeks. If delayed, the NOC will be treated as deemed approved under the Right to Service Act.
The announcement was made at MHADA’s second redevelopment conference and investors’ summit, held at MIG Club in Bandra (East), in the presence of leading figures from the real estate sector and government.
As per the new directive, redevelopment proposals submitted under Section 79A(1a) or 79A(1b) with the consent of at least 51 per cent of tenants will now be fast-tracked. “If all stakeholders stick to their commitments, it is possible to build 8 lakh affordable homes in the Mumbai Metropolitan Region (MMR) in the next five years,” Mr Jaiswal said.
MHADA plans to invest Rs 6,609 crore in these initiatives, with private developers expected to contribute around Rs 1.28 lakh crore. Among the key redevelopment projects prioritised are those in GTB Nagar, Abhyudaya Nagar, Motilal Nagar and the BDD Chawls.
Prominent attendees at the event included CREDAI National Chairman Boman R Irani, CREDAI-MCHI President Domnic Romell, former MahaRERA chief Gautam Chatterjee, Hiranandani Group’s Niranjan Hiranandani, NAREDCO Maharashtra President Prashant Sharma, and NAREDCO India President Rajan Bandelkar, among others.
The summit also highlighted several reform measures:
Provision of FSI 3.00 or a combination of rehabilitation plus 75–100 per cent incentive FSI for both cessed and non-cessed structures.
Surplus tenements under 33(9) to be used for transit accommodation without prior offers to the BMC or MMRDA.
Premiums on clubbed schemes to be calculated based on the smaller plot area.
Financial relaxations including a 13% reduction in interest rates, premium payments in instalments, and GST relief on rehabilitation components.
Further, MHADA is set to act as the nodal agency for affordable rental housing. Proposed measures include a Rental Housing Index, a 10-year income tax exemption on rental income, and the use of unused MHADA land for rental housing projects.
Provisions for inclusive housing were also addressed, such as fixing tenement costs at 125% of DSR (District Schedule of Rates) and preventing sub-division of plots smaller than 4,000 sq m.
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