After Indian Prime Minister Narendra Modi announced the demonetisation of ₹500 and ₹1000 notes in 2016, various builders and developers were put in a dilemma as they had been involved in malpractices. This resulted in hindering of various Maharashtra Housing and Area Development Authority (MHADA) projects. After which, these builders were either arrested or went bankrupt and this left various MHADA projects unfinished.
Due to which, over 50,000 MHADA applicants who live in rented houses have been facing hardships. Majority of these belong to the Marathi community.
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The housing authority has been reconstructing societies and residences in a shabby and dangerous condition for several years. Accordingly, the MHADA Repair and Reconstruction Board President, Vinod Ghosalkar has now asked the housing board to provide ₹1,000 crore for the reconstruction of 50,000 houses.
Ghosalkar also added that the faulty builders have stopped the construction work and have also stopped providing the tenants with the rent for their current residences. He added that due to which, more than 21 projects have remained unfinished in Dadar and Mahim.
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The Mumbai Building Repair and Reconstruction Board has prepared a list for projects which have been given a 'No Objection Certificate' (NOC), the projects with unfinished construction, and the progress report of other projects under construction.