Maharashtra Cabinet has given its nod to the policy for redevelopment of the old and cessed buildings under 33 (7) that are left midway by developers due to fund crunch and other issues.
The move will make way for redevelopment of several buildings in the city. The government amended the Maharashtra Housing and Area Development Authority (MHADA) Rule of 1976 making MHADA as a planning authority.
The guidelines for redevelopment of the old and cessed buildings has been also sanctioned.
With the new amendment of the Act, government agency has the right to undertake the leftover project. It can also undertake the projects whose developers are not able to pay the rent to residents.
Under the Brihanmumbai Municipal Corporation (BMC) Act section 353 and 354, the government can issue the notice to developers giving six-month notice to vacate the premises. If fail to do so, the nodal agency can also acquire the land and issue the notification and complete the project.
The state government had appointed the eight members MLA committee in 2018, and the panel had given suggestions and comprehensive report for the speedy and seamless redevelopment of the old and cessed buildings.