Ganesha helps crack redevelopment deals

Banking in on the Ganesh festival, many city developers have given donations to local mandals for advertisement hoardings so that they get an opportunity to redevelop old, dilapidated buildings.
There are 16,000-odd old buildings in the city.

“As land is not available, old buildings are the only option before developers to undertake housing projects. Developers are using the festival as an occasion to build trust with residents and crack deals,” said Narendra Dahibavkar, president, Sarvajanik Ganeshotav Samanvay Samiti.

Paras Gundecha, president of the Maharashtra Chambers of Housing Industry, said displaying hoardings at prominent mandals helps promote themselves. “The mandals, in return, get donations,” he said.

Mayur Shah, MD of Marathon Developers, said: “It is win-win situation for both the developers and mandals.”

Last year, Shreepati-DB Realty, HDIL, SD Corporation, Vignaharta Developers and  Mangalmurti Developers had displayed hoardings with offers for redevelopment of the 34-acre of Abhyudaya Nagar at Kalachowkie.

“The hoardings helped us compare the offers given by various developers and shortlist the right one. It was open procedure,” said a resident of Abhyudaya Nagar.