Maharashtra slum policy fails to fully satisfy realtors
Maharashtra government’s decision to extend the cut-off date by five years to January 1, 2000, from the earlier January 1, 1995, may help speed up execution of slum re-development projects but the real estate developers are not completely satisfied and want more.
CREDAI chairman, Mr. Lalit Kumar Jain says, “To some extent, this scheme will aid in faster movement of existing projects. However, the larger problem remains, because a lot more people have settled in slums after 2000 who will now move out to a new location. The government should allow accommodation on a real-time basis, albeit charging them for it.”
The Maharashtra Cabinet took this decision in a late night discussion on Wednesday. This essentially means that slums which have come up between 1995 and 2000 will now be regularized and these will be eligible for rehabilitation in slum re-development projects.
The transfer of ownership of protected slums built on or before January 1, 1995 will also be legalized. This means that even those people who have moved in a slum structure by way of buying or transfer of rights to reside in it, will also be eligible for rehabilitation in redevelopment projects, which was a long-pending popular demand.
Clarity on the transfer policy has more significance than the cut-off, because a number of people had sold off or moved out of their slum dwellings, and, they were not eligible for accommodation in the redevelopment projects. This had been leading to execution challenges and delays in project completions. The Government is of the view that the move may now lead to faster implementation of under-construction slum redevelopment projects but the developers differ on its efficacy in making the city slum-free.
Gaurav Gupta, director, Omkar Realtors & Developers, one of the leading players in slum redevelopment projects in the city, says on the issue, “This will help clear the stuck projects, which would result in more supply coming into the market and also improve social infrastructure in the city. The new scheme protects the structure, which was most needed as it is natural that people would have moved out from their locations over a period of time and, now, with the transfer policy also cleared, the process of slum redevelopment will be smoother and faster.”
Gupta is of the view that not many people have moved in slums after 2000 as Mumbai practically has no space now. Rajesh Vardhman, managing director, Vardhman Group (Mumbai-based real estate player undertaking redevelopment projects, including slums), however differs and said the two moves combined will lead to at least 15-20% more people to be rehabilitated, and that too without any cost attached. “If the government has to provide accommodation to all, there should be some charges levied, because free rehabilitation will not stop rising of new slum clusters”.
Source: The Financial Express
CREDAI, Gaurav Gupta, Lalit Kumar Jain, legalized, Maharashtra government, Omkar Realtors & Developers, Rajesh Vardhman, re-development, Realtors, rehabilitation, Slum, transfer of ownership
