CIDCO Eases Consent Clause, Boosting Redevelopment Prospects In City

With the City and Industrial Development Corporation (CIDCO) easing the ‘Consent’ clause while undertaking the redevelopment of old and dilapidated buildings in the satellite city, more structures are now seeking permission for redevelopment. Developers acknowledge that this new rule will boost the redevelopment process. However, they highlight that the redevelopment of buildings is still in its initial stages in Navi Mumbai, prompting many to adopt a ‘wait and watch’ policy.

In a bid to usher in a new era of development and rejuvenation in Navi Mumbai, CIDCO announced a ground-breaking decision to ease the consent clause for the redevelopment of dilapidated buildings. As per CIDCO, a building can now be redeveloped with consent of only 51% members of a housing society prior to the earlier 100%.

https://www.freepressjournal.in/mumbai/navi-mumbai-cidco-eases-consent-clause-boosting-redevelopment-prospects-in-city

Source: The Free Press Journal

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