It will pave the way for reconstruction of more old and dilapidated buildings, mainly in South Mumbai," said Housing Minister Prakash Mehta on Wednesday.
Under the new amendments to the Maharashtra Apartment Ownership Act, the state government has allowed developers to go ahead with only 51% tenants/owners consent, as against the earlier 100% needed when undertaking redevelopment of old buildings.
"It will pave the way for reconstruction of more old and dilapidated buildings, mainly in South Mumbai," said Housing Minister Prakash Mehta on Wednesday. He added that 'unanimous' consent had been with 'majority of votes' in the Maharashtra Apartment Ownership Act.
"Here, an 'apartment' would mean the block, chamber, dwelling unit, flat, office, showroom, shop, godown, premises and suite," Mehta clarified. "In south Mumbai, the redevelopment of a majority of old and crumbling buildings is stuck due issues regarding consent."
Boman Irani, chairman and MD at Rustomjee, welcomes the decision, saying "In Mumbai, there is no virgin land left; we can build houses only through redevelopment of old structures.
"Moreover, larger housing societies are also coming in for redevelopment. In these cases, the majority consent will be helpful."
He added that the redevelopment process is quite complex and time-consuming. "Most of our times goes in convincing the tenant/owner of the building to go in for the project and vacate the building. Now, things will be smoother and faster," Irani added.
Manohar Shroff, vice president of Maharashtra Chamber of Housing Industry, Navi Mumbai said that in the satellite city, most old CIDCO buildings are going to redevelop. "So this consent clause will be helpful for developers and promoters," he says. "More houses will be available in the market because of it."
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