Lodha will hand over the 945 units as permanent transit camp (PTC) units to Slum Rehabilitation Authority (SRA), which was mandated as per the SRA scheme for its Vikhroli project
The Slum Rehabilitation Authority (SRA) lists roughly 1,700 ongoing rehabilitation projects, with over 500 believed to be stuck at various stages of development, as per industry estimates.
Maharashtra CM Eknath Shinde pledges Rs 50,000 aid for each family in SRA building affected by recent fire incident.
Advocate General Ashutosh Kumbhakoni, appearing for SRA, told a division bench of Justices S C Dharmadhikari and R I Chagla that the realty group, whose promoters are facing criminal charges in the Punjab and Maharashtra Cooperative (PMC) bank scam, was not in a position to carry out work on the projects.
The notice was issued to HDIL Galaxy Apartments in Kurla East for handing over flats without securing the occupation certificate, lift clearance and fire completion certificate for those flats
The state government had published an advertisement in November, announcing the sale of 1,384 flats in the city through computerised lottery.
As per rules, slums are redeveloped by builders under SRA guidelines and comprise a saleable portion, for fresh buyers, apart from homes meant for rehabilitating slumdwellers.
"Our SRA scheme has not progressed as it should have. We are in the process of making amendments in the scheme," Fadnavis said at a summit organised by the National Real Estate Development Council (NAREDCO) here late last evening.
The Maharashtra government is mulling the introduction of a regulation, to take over incomplete housing projects of SRA (Slum Rehabilitation Authority) and handing them over to other agencies through tenders. “After taking over such R
As part of the first stage of rehabilitation, the SRA will conduct a comprehensive survey of all slums in the Greater Mumbai region within six months of the launch of its new policy.
Sarang Wadhawan, vice-chairman and managing director of HDIL says the overall sentiment among investors has improved. He adds that volumes of residential projects is seeing improvement.
The battle between HDIL and MIAL raged on in the Bombay High Court. Mumbai's slum rehabilitation authority argued for its right to reposses the built tenements.
Mumbai, India's financial capital, attracts massive investments - largely in the real estate sector. The city being the nation's epitome of high real estate prices and land scarcity, huge sum of money keep chasing land in the city - while infrastructure augmentation lags behind. Way behind.
"Documents have been forged to declare it as a slum plot and it was taken up for the development by HDIL under SRA project," Awasti stated.