"The response is good, there is a lot of enthusiasm amongst people and I am sure that many proposals will come in the next few months," said Milind Mhaiskar, VP and CEO of Mhada.
Two months after the state government amended the Development Control Rules 33 (5), nine buildings from seven colonies, of the 56 colonies developed by Maharashtra Housing and Area Development Authority (Mhada) across the city, have sent their proposal for redevelopment. Mhada Officials confirmed the move, and claimed that this is a good step, as for almost eight years there were no proposals.
"The response is good, there is a lot of enthusiasm amongst people and I am sure that many proposals will come in the next few months," said Milind Mhaiskar, VP and CEO of Mhada.
The redevelopment of 56 Mhada colonies was stalled due to one of the clauses of DCR 33 (5), as it demanded housing stock instead of a monetary premium. Developers felt that it was unviable to give housing stock. The amended law states that plots below 4,000 sqm will get a Floor Space Index (FSI) of up to 3, and won't have to give any housing stock. Instead, they will be given a "no objection" from Mhada on a monetary premium payment. If a redevelopment plot exceeds 4,000 sqm, then the developer may get an FSI of 4, of which 1 FSI has to be given to Mhada in form of housing stock.
An official said, "There are nine buildings of seven different colonies from Pant Nagar, Kannamvar Nagar and Mitha Nagar (Mulund)." According to sources, these plots are below 4,000 square meter, the developer will get FSI of 3 and no housing stock has to be given.
MHADA colonies were in need of immediate revamp. However, with support from political parties they protested a few years ago. The state government issued a Government Resolution (GR) in July which stated that the FSI has been exceeded up to 4 in case of plots having an area of 4,000 sqm and above, whereas plots up to 4,000 sqm will get FSI up to 3 by paying a monetary premium.
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