The National Real Estate Development Council (NAREDCO) has formally requested the state government authorities to allocate 5,000 slum redevelopment projects to the industry body. This comes after Maharashtra Housing Minister Atul Save called on real estate developers to participate in the slum redevelopment process that the state government initiated through various agencies.
The minister issued this urgent demand at a recent event with the goal of realising Mumbai’s vision of “Housing for All” and eliminating slums.
Mumbai’s state government is dedicated to make the city slum-free. In order to accomplish this, projects approved by the SRA but on hold for a variety of reasons are seeing the transfer of almost 200,000 slum housing units to other government organisations, including MHADA, MMRDA, MCGM, MIDC, and MSRDC. The aim is for the aforementioned agencies, who are functioning as developers, to finish these abandoned slum projects within a specific timeframe so that qualified slum occupants can move into their own dwellings.
“We have always believed in the power of PPP,” remarked Prashant Sharma, President of NAREDCO Maharashtra, in response to this action. The scope of this project demonstrates our dedication to promoting inclusive growth in addition to enhancing Mumbai’s urban environment. Our goal is to collaborate closely with the state government to completely transform Mumbai’s real estate market and move the city closer to becoming slum-free. We are ready to use our knowledge of the sector, creative thinking, and teamwork to accomplish these challenging objectives.
The 5,000 slum rehabilitation projects will act as a model for upcoming urban redevelopment initiatives and as evidence of what is possible when the public and private sectors work together effectively.
Source: The Free Press Journal
