Mumbai – There are 432 building redevelopment projects pending in the city from more than 10 years. The SIT will be formed to inquire into the delay in these projects and the permissions given to the developers of these buildings will be cancelled on the line of SRA, announced Ravindra Waikar, minister of state for housing, in the Legislative Assembly on Tuesday.
The permission for
Many real estate developers had taken over these projects and earned profits, took loans from financial institutes but did not start their projects. When they were expected to hand over 16 lakh sqft construction to the MHADA, it was not given. The estimated cost of this construction is around Rs 6000 crore.
BJP MLA Ashish Shelar had raised this issue in the Legislative Assembly. Shelar had alleged that Mumbai residents were being cheated by the builders. Replying to his query,