State Govt Working On A Policy
Maharashtra Chief Minister Eknath Shinde acknowledged that many residents had t move out of the City due to stalled home projects.
MUMBAI, May 8 (The CONNECT) – Maharashtra Chief Minister Eknath Shinde has promised that a new policy will be decided after a comprehensive review of stalled redevelopment projects in Mumbai.
The CM met a delegation of residents of stalled redevelopment buildings in Dadar area on Thursday at the Sahyadri State Guest House.
Giving instructions during the meeting, Shinde said that there is a need to define a policy regarding the stalled redevelopment projects in Mumbai and the government started working on this.
Applauding the move, Sandeep Runwal – President, NAREDCO Maharashtra said, “Stalled redevelopment projects have become a bane for so many residents of Mumbai. These residents are deprived of the basic necessity of shelter. They have to make ends meet to support themselves and their families amidst the rent payout, bank EMIs, etc. This is a great initiative taken by the Chief Minister and we at NAREDCO Maharashtra are looking forward to working together in finding a quick and lasting solution.”
Echoing similar sentiments, Vivek Mohanani, Managing Director & CEO, Ekta World Limited welcomed the CM’s response. The aftermath of the pandemic and the liquidity crunch faced by the housing industry thereafter, saw a number of such redevelopment projects getting stalled. Residents of these redevelopment projects are the worst sufferers in the given situation and have to bear the brunt for no fault of theirs, he pointed out.
“We stand with the government in trying to alleviate their suffering and hope to find an immediate solution,” he said.
Due to stalled redevelopment for the past several years, these original homebuyers in Mumbai had to move out of Mumbai, Shinde noted.
