Slum Redevelopment – Makaan Bhai https://makaanbhai.com Mumbai's No.1 Property Advisor with 0% Brokerage Fri, 16 Feb 2024 20:00:53 +0000 en-US hourly 1 https://wordpress.org/?v=6.9.1 After the authority’s actions, slum dwellers’ pending rent of 180 crores has been collected! https://makaanbhai.com/after-the-authoritys-actions-slum-dwellers-pending-rent-of-180-crores-has-been-collected/ Sun, 31 Dec 2023 12:57:29 +0000 https://makaanbhai.com/?p=20253 Following the forceful action initiated by the authorities against the slum rehabilitation project developers for pending rents, an amount of 180 crores has been collected by the authorities to date.

Mumbai: Due to the vigorous action taken by the authorities against the developers responsible for pending rents from slum dwellers, an amount of 180 crores has been collected by the authorities. This rent will be distributed among the relevant slum dwellers. Consequently, the claims of rent reduction have been asserted by the authorities.

Moreover, the developers, who had delayed rent collection for the past two years, are now compelled to deposit the outstanding rents with the authorities due to the action of not granting approval for slum projects. Satish Lokhande, the principal executive officer of the authority, has declared the decision to recover the entire 680 crores of pending rent. In the past two to three years, there has been an increase in the delay of rent payment by slum dwellers. The outstanding rent had reached up to the crore rupees mark.

As the rent wasn’t received, even the slum dwellers were surprised. They had approached the offices of the authorities, pleading their case to the top executives. The authority had begun postponing the projects of developers who refused to pay rent. Yet, the pending rents were not recovered. Some slum dwellers had even gone to court over the delayed rent issue. After the court intervened in the delayed rent matter, the authority took stricter actions in this regard. After issuing a directive numbered 210, the authority tightened the grip on developers.

For those projects where rent is pending, the authority has halted the construction of buildings for sale until they pay the delayed rents. Orders for collecting rents delayed for two years and a minimum of one year’s rent in advance have been issued through this directive. Hence, it has been decided to provide this as a binding obligation until eligibility is ascertained, ensuring the authority receives information about the number of lands converted into slum dwellings and details of building permits, even after the slums are demolished, which will lead developers to suffer a severe setback. Slum dwellers will receive substantial relief after obtaining rent and lease agreements before the demolition of slums.

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After issuing personal agreements, there’s a halt to slum redevelopment! Another decision from the Authority regarding the demolition aftermath https://makaanbhai.com/after-issuing-personal-agreements-theres-a-halt-to-slum-redevelopment-another-decision-from-the-authority-regarding-the-demolition-aftermath/ Thu, 28 Dec 2023 09:53:36 +0000 https://makaanbhai.com/?p=20237 Following the demolition of slums, strict action is decided against developers who refrain from commencing construction of rehabilitation buildings within a specific period.

Mumbai: After the Supreme Court’s scrutiny on exorbitant rents and subsequent directive to recover two years’ arrears and further annual payments for the redevelopment of slum settlements, the decision to grant permission for the redevelopment plan of slums to rehabilitate the developers without giving personal agreements has now been restricted by the Authority. Furthermore, a stern action is decided against those developers who, post-slum demolition, fail to initiate construction of rehabilitation buildings within a specified period.

Even though 380 proposals were accepted and acknowledged, approximately 517 schemes, of an estimated 900, are currently under the Authority’s focus. Many of these plans have been pending for several years, and without rentals, slum dwellers’ conditions have worsened. The Authority has begun efforts in the direction of executing these plans, as expressed by Satish Lokhande, the Chief Officer of the Slum Rehabilitation Authority. Despite personal agreements being binding, the Authority had earlier refrained from pressuring developers. However, now, it will be necessary to commence the redevelopment plan before entering into any personal agreements. It has been explicitly stated by the Authority that slums should not be vacated without tenants receiving rents and personal agreements.

Various planning authorities are also considering alternative methods, including tapping into the financial resources of developers or special financial companies, to expedite the implementation of these plans. It has also been suggested by a senior official that redevelopment and sale of buildings for rehabilitation and sale should be coordinated. However, it has been clarified by the same high-ranking official that under no circumstances will the slum redevelopment scheme interfere with the completion of construction work on slum dwellers’ buildings. The Authority is now stringent on this matter, as pointed out by the official.

Developers receiving two years’ arrears are responding positively to the directive. Henceforth, in all ongoing plans, there will be no complaints of rent exhaustion for at least the next two years, as stated with confidence by this official. A robust move has been initiated to recover outstanding dues of approximately 600 crore rupees from developers. Consequently, all relevant developers will need to pay rents. Developers who have the intention of completing the plan will receive a complete rent waiver, and only after this can they be given subsequent approvals for the next year’s arrears. The Authority has also taken the decision to start the implementation of the redevelopment plan along with the registration of developers for permanent transit camps to handle such disruptions.

Furthermore, the Authority has taken a binding decision to submit intention letters from developers regarding rent collection, as well as information about the slum dwellers who have become landowners, and the initial construction details. These have now been made mandatory to present to the Authority alongside the developers for registration.

We take pride in having comprehensive knowledge about the real estate market in various areas such as MumbaiNavi Mumbai, Thane, as well as surrounding regions like VirarNeralKarjat, among others. To provide our customers with the best options available, we have utilized this knowledge. Contact MakaanBhai.com now for a secure transaction in your home. We, MakaanBhai.com, are the number one property advisors in Mumbai with zero brokerage fees, and our experienced professionals are committed to guiding you through the entire process.

Information Source : Internet

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