The Maharashtra Housing and Area Development Authority (MHADA) has initiated discussions on the redevelopment of 68 old and dilapidated cessed buildings owned by the Life Insurance Corporation of India (LIC) across Mumbai. A meeting regarding the project was recently conducted at the MHADA headquarters in Bandra (East) under the chairmanship of MHADA Vice President and Chief Executive Officer Sanjeev Jaiswal (IAS).
The meeting, organised by the Mumbai Building Repairs and Reconstruction Board, focused on accelerating the redevelopment of ageing buildings in key parts of the city, including Fort, Girgaon, Dadar, and Matunga.
According to officials, many of these structures have become structurally weak due to age and deterioration, making redevelopment increasingly necessary to safeguard residents and commercial occupants from potential risks to life and property.
A total of 68 LIC-owned cessed buildings have been identified for redevelopment across Mumbai. These include 39 properties in Fort, 18 in Girgaon, three in Matunga, and eight in Dadar. Together, the buildings currently accommodate 1,764 occupants, comprising 815 residential tenants and 949 commercial occupants.
During the meeting, officials reviewed the present condition of the buildings and discussed various aspects of the redevelopment process. The deliberations covered tenant rehabilitation plans, required administrative procedures, and the framework for implementing the next stages of redevelopment.
Authorities stated that the project would prioritise the interests and rehabilitation of existing occupants while focusing on creating safer, modern, and sustainable housing and commercial infrastructure.
Representatives from LIC informed officials that the corporation is keen to undertake the redevelopment of its properties independently. In response, MHADA Vice President and CEO Sanjeev Jaiswal assured the authority’s full cooperation to facilitate the faster implementation of the redevelopment initiative.
The redevelopment of old cessed buildings has remained a major urban challenge in Mumbai, particularly in the island city areas where several ageing structures continue to house thousands of residents and businesses. Officials believe the proposed redevelopment of LIC-owned buildings could significantly improve safety standards and urban infrastructure in these densely populated localities.
Source: The Free Press Journal
