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In a significant development, the state government of Maharashtra announced plans to establish a dedicated monitoring authority specifically for redevelopment projects, aimed at ensuring their prompt and timely completion. The decision comes in response to the growing number of redevelopment initiatives in key urban centres such as Mumbai, Pune, and Thane, besides a commitment to address the demands and concerns of citizens.
Housing Minister Atul Save emphasized the necessity of appointing a distinct regulatory authority to oversee redevelopment projects across the state, unveiling the upcoming housing policy scheduled for announcement in January. The proposed regulatory authority, akin to MahaRERA, which oversees new constructions, is envisioned to play a pivotal role in monitoring redevelopment endeavours that might otherwise face prolonged timelines.
Save asserted that with effective monitoring, these projects could not only meet their deadlines but potentially be expedited. He stressed the significance of aligning the new authority with MahaRERA's model to ensure efficiency and adherence to timelines.
Ramesh Prabhu, Chairperson of the Maharashtra Society Welfare Association (MSWA), expressed support for the establishment of such an authority, emphasizing its potential benefits.
The move follows a recent report by the press highlighting the concerns of a citizens' group, urging the government to establish a comprehensive mechanism for redevelopment projects. The group emphasized the need for a regulatory authority backed by a special statute and advocated for provisions similar to the Real Estate (Regulation and Development) Act (RERA) to address potential delays through legal means.
The citizens' group further called for the regulatory body to have jurisdiction not only over housing societies on private land but also structures falling under government, MHADA, SRA, and cessed buildings. The demand reflects a broader desire to streamline and expedite the redevelopment process across various categories of structures in the state.
The state government's plan to establish a dedicated monitoring authority for redevelopment projects, mirroring MahaRERA's role in overseeing new constructions, addresses citizens' concerns. The proposed regulatory body, expected to be announced in January, reflects a proactive approach to enhance accountability and adherence to timelines in redevelopment endeavours across urban centres like Mumbai, Pune, and Thane.
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