The National Real Estate Development Council (NAREDCO) has formally asked the state government authorities to assign 5,000 slum redevelopment projects to the industry group, in response to Maharashtra Housing Minister Atul Save’s call for real estate developers to participate in the state government’s slum redevelopment process through various agencies.
The minister made this urgent appeal at a recent event with the goal of realising the Prime Minister’s “Housing for All” agenda and eliminating slums from Mumbai.
“The goal of slum restoration has always been appealing and inspiring. All stakeholders will benefit from NAREDCO’s interest in occupying some slum areas, according to Sanjeev Jaiswal, vice president and CEO of the Maharashtra Housing and Area Development Authority (MHADA).
The goal of the State Government is to eradicate slums from Mumbai. About 200,000 slum housing units in SRA-approved projects that have stagnated for a variety of reasons are being transferred to other government organisations, including MHADA, MMRDA, MCGM, MIDC, and MSRDC, to accomplish this. To guarantee that eligible slum dwellers receive their proper houses, the goal is for the aforementioned authorities, acting as developers, to finish these stalled slum projects in a timely way.
Declaring that this project will be a major step in altering the real estate market in Mumbai and bolstering Public-Private Partnerships (PPP), Dr. Niranjan Hiranandani, NAREDCO National Chairman, stated: “By leading this initiative, NAREDCO hopes to play a crucial part in making Mumbai a city free of slums.”
The 5,000 slum redevelopment projects will demonstrate what can be achieved through successful cooperation between the public and private sectors and will set the standard for future urban redevelopment initiatives.
Source: The Free Press Journal
