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Redevelopment of the Maharashtra Housing Authority Colonies is Soon to Get a Boost
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The redevelopment of various weak colonies of the Maharashtra Housing and Area Development Authority is anticipated to get a healthy boost. There are some conditions set in by the MHADA regarding this. The move will be quite helpful for the scheme.

Mumbai, 27th February 2017: Redevelopment of haggard colonies of the Maharashtra Housing and Area Development Authority (MHADA) is about to get a lift. This is because of the most recent draft notification of the state government proposing to permit engineers to pay either a premium or offer lodging stock to the authority for undertakings spread over under 2,000 Square meters.

Overview

The Maharashtra Housing and Area development Authority (MHADA) may permit advancement of such activities by charging a premium from the designers and without demanding a share of the lodging units, as per the state government’s draft notice. Be that as it may, for the redevelopment of colonies that are spread over more than 2,000 Square meters, designers should give prepared lodging stock in these undertakings to get consent.

As per reports, they have covered the move to offer payment adaptability to designers with a specific end goal to push the redevelopment of frail structures in Maharashtra Housing and Area development Authority colonies. Government-based Maharashtra Housing and Area development Authority had sent a proposition on this to the state government.
Related Information

Mumbai has a total of 104 MHADA formats, of which structures in 56 settlements are feeble. A significant portion of these are spread over under 2,000 Square meters — so the move will help in the redevelopment of these settlements. Until 2008, the Maharashtra Housing and Area development Authority used to charge a premium for no-complaint authentications and extra FSI for the redevelopment of haggard settlements.

In April 2013, the Maharashtra government expanded the floor space list for Maharashtra Housing and Area development Authority structures to three times from two-and-half circumstances on the whole format. So, if this move is carried out perfectly, then the redevelopment process will get a healthy boost that will help it out a lot.

Somdeepa Bhattacharjee

Author: Somdeepa Bhattacharjee

Somdeepa Bhattacharjee has a total experience of five years in the Content Editorial, Online Community and Internet Marketing domains. As a part of the content team of a3solutions.in, she develops research-oriented stories and News Articles on recent market trends. She has a proven strong analytical skill in her Articles which help readers to understand real time scenario of Realty Market. In her free time, Somdeepa engages in Blogging, Trekking, Reading Classics and Photography. She really fond of Entrepreneurship, Travelling and Foods.