FCC

Maharashtra Urges LIC Building Redevelopment via MHADA Notices

2023-08-25

In a stride toward revitalising Mumbai's urban landscape, Maharashtra's Housing Minister Atul Save has taken a proactive stance, instructing the Maharashtra Housing and Area Development Authority (MHADA) to issue crucial redevelopment notices to the Life Insurance Corporation of India (LIC). The minister's directive under the recently introduced section 79 (A) of the Maharashtra Housing and Area Development Act, 1976, aims to expedite the renewal of 68 aged and deteriorating cessed buildings owned by LIC.

These 68 structures encompass a total of 1,764 tenants across diverse locations, including South Mumbai's Fort area, Girgaon, Dadar, and Matunga. Of these tenants, 815 reside within residential units, while 949 occupy non-residential spaces.

Under the innovative provision of section 79 (A), MHADA will serve notices soliciting redevelopment proposals from LIC. Within six months, LIC must submit their redevelopment plan, as specified by MHADA. Should LIC falter in complying, occupants will receive a further six-month window to present their proposals.

If these endeavours encounter roadblocks, MHADA stands prepared to execute redevelopment by acquiring the necessary land, in accordance with the recent amendment to the MHADA Act. Minister Save underlines that LIC's occupants will not face punitive actions until the redevelopment materialises, demonstrating a considerate approach toward the affected residents and tenants.

The state's drive to reinvigorate these cessed buildings exemplifies a commitment to urban rejuvenation, positioning Maharashtra as a pioneer in progressive urban planning.