City

Jitendra Awhad: SRA will take over abandoned projects, Builders welcome move

Published on August 13, 2021

Housing Minister Dr Jitendra Awhad said, “#SRA plans to take over all projects which are at stand still and have taken big fat loans from financial institutions and left the poor on the streets
The very aim is to give homes to the poor and pump in money for #SRA
Just having #LOI does not make u the owner of the property”

Dr Niranjan Hiranandani, National President, NAREDCO said, “the decision by Maharashtra Housing Minister Shri Jitendra Awhad on delayed SRA projects is a step towards resolving long-pending issues relating to 550 such projects.

“These SRA projects have been lingering for numerous reasons, but the Hon’ble Minister has proposed a solution which should see quick resolution of all long-standing disputes between stakeholders in these SRA projects. It will help financial institutions to recover funds locked up in such delayed and stalled SRA projects, while also ensuring that home seekers get their long due homes. The expectation is that the hon’ble minister will also ensure that developers whose SRA projects are in problems for no fault of theirs, will also be safeguarded. Out of the box solutions work as a solution, and in the case of these 550 SRA projects, hopefully, we should see a positive turnaround” he concluded.

Many affected SRA societies, especially across Mumbai are seeing ray of hope. Many SRA societies people have moved out and they are not getting the promised rent by Builders since years. The existing slums conditions have worsened and the Housing Ministers initiative will bring a quantum jump of creating a good atmosphere in SRA projects , being good for the slum dwellers.

Another Developer Kiran Hemani said, “It’s a good move as this will result in speedy development. But before any authority takes over the project, it should understand the issues related to delay in details and if developer is prepared to implement and complete the same in reasonable time, he should be given first chance. As developer must have invested lot of money to bring to the stage of approvals.
Most important thing for various authorities is to streamline the process in a time-bound period of approvals, vacating slum structure for construction purpose and other issues.”

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Jitendra Awhad: SRA will take over abandoned projects, Builders welcome move

City

Jitendra Awhad: SRA will take over abandoned projects, Builders welcome move