The City and Industrial Development Corporation (CIDCO) special planning authority of Navi Mumbai, on January 19 said that it has included a provision in its building reconstruction policy wherein a building can be redeveloped with the consent of only 51 percent of members of a housing society instead of the earlier 100 percent. This is expected to boost the redevelopment of 400 buildings in Navi Mumbai.
According to the amended policy, in order to obtain permission for the reconstruction of a building, 51 percent of the total members of the housing society will be required to submit their written consent in the form of an affidavit to CIDCO.Barring this change, the rest of the terms and conditions of the Policy will remain the same. This will pave the way for the reconstruction of buildings constructed on CIDCO plots in Navi Mumbai.
https://www.moneycontrol.com/news/business/real-estate/cidco-amends-building-reconstruction-policy-51-consent-required-for-redevelopment-of-buildings-in-navi-mumbai-9896751.html
Source : Money Control
