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  Metros   Mumbai  08 Jul 2018  5,800 projects are stalled due to developers: Expert

5,800 projects are stalled due to developers: Expert

THE ASIAN AGE.
Published : Jul 8, 2018, 2:16 am IST
Updated : Jul 8, 2018, 2:16 am IST

Similarly, 60 residents of Goregaon Pearl Housing Society have been waiting for new homes since 11 years.

(Representational image)
 (Representational image)

Mumbai: The main objective of the Self Redevelopment scheme was to eliminate the builder allowing the society to appoint a contractor and architect. According to experts, there are around 5,800 housing societies in the city whose redevelopment work has been stalled due to delay caused by the developer. In many cases, the tenants had to wait more than the scheduled period for the completion of the project. However, with ‘Self Redevelopment Policy’ the tenants can achieve timely completion and no discretion over the plans.  

An important example of failure by the developer in completing the redevelopment project will be Goregaon’s Patrawala chawl project. This had been in a limbo since 2008 after the developer defaulted in following rules for redevelopment as mentioned in the agreement. The developer, Guruashish Builders, had allegedly sold the project to various buil-ders and encashed a handsome amount. Thus in April, Mhada had to take over the redevelopment work. “There are around 5,800 redevelopment projects in the city which are stalled due to the developers,” said Chandrashekhar Prab-hu, a housing expert.

 

Similarly, 60 residents of Goregaon Pearl Housing Society have been waiting for new homes since  11 years.

Tags: self-redevelopment policy