Key Policy Shift
The core of the new policy revolves around a financial safeguard for residents. Developers will now have to deposit rent equivalent to three years, before
starting any redevelopment work. This directive directly addresses the common issue of projects being stalled. Builders often fail to provide rent payments and there were also issues of delayed construction, causing significant hardship for those displaced. This ensures that residents are supported during the redevelopment process, protecting them from potential financial strain.
Addressing Issues
Deputy Chief Minister Eknath Shinde highlighted the policy's intent to resolve recurring problems. The problems included builders neglecting rent payments, delaying construction, or even transferring rights, leading to project stagnation and causing inconvenience to residents. The new rule addresses these concerns and aims to ensure smoother project execution. This helps create a more secure environment, allowing projects to progress without the uncertainties and potential financial risks that residents have previously faced.
Project Approval Process
In addition to the upfront rent deposit, the new policy includes an evaluation of developers' project execution capabilities. This assessment will be conducted simultaneously with the approval process. This dual approach is intended to make sure that only developers with the necessary financial stability and project management skills are considered for these projects. This assessment will help increase the likelihood of project completion and reduce the chances of the disruptions and abandonment of projects that have plagued redevelopment efforts.
Government Commitment
The government is committed to reviving stalled redevelopment projects by collaborating with cash-rich government agencies that have a strong track record of completing projects on time. They anticipate raising Rs 50 lakh crore over the next five years. The government plans to construct 35 lakh homes in the state, which will create more affordable housing options. This concerted effort represents a significant investment in the state's housing infrastructure and offers stability and improved living conditions for residents.
Housing for All
Mhada is focusing on policies tailored to the needs of senior citizens, potentially making Maharashtra the first state in the country to prioritize this segment. The development plan is also centered on affordable housing. This involves providing better access to homes for groups like working women and mill workers, and offering rental homes for migrant workers. Such developments are geared towards ensuring all sections of society are able to secure proper housing and a stable life.
