Plans for Self-Redevelopment in One of the Oldest Co-Operative Housing Colonies, Talmakiwadi

Talmakiwadi in Tardeo, one of the oldest co-operative housing colonies in Mumbai, is to undergo reconstruction as part of the self-redevelopment initiative. The housing society’s General Body has approved the meeting, and the residents will meet the following month to talk about ideas for cash raising.

Self-redevelopment refers to housing societies’ decision to rebuild their structures without hiring a builder. In this scenario, homeowners are exempt from having to split benefits with builders, such as an improved Floor Space Index (FSI) or construction space. Incentives to support self-redevelopment have been announced by the government.

Source – Free Press Journal

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