BJP MLC Pravin Darekar has appealed to Mumbai’s cooperative housing societies to consider self-redevelopment through the state government-backed Self Group Redevelopment Authority (SGRA) instead of opting for builder-led redevelopment projects. He said the model provides greater transparency, improved construction standards, increased carpet area benefits and financial support for residents.
Darekar said the self-redevelopment initiative has received a positive response, with nearly 1,600 proposals submitted so far. He highlighted that financing has been one of the biggest challenges for societies, but the Maharashtra government has stepped in to provide assistance to help them independently execute redevelopment projects.
“In the coming years, self-redevelopment will become the preferred option for small cooperative housing societies. As people witness successful projects, their confidence in the model continues to grow,” Darekar said.
He said middle-class residents often face difficulties in arranging funds and ensuring timely completion of redevelopment works. According to him, government support has helped address these concerns and encouraged more societies to explore the self-redevelopment route.
Under the scheme, cooperative housing societies registered under the Cooperative Societies Act can avail loans at standard lending rates. Societies that are not registered will also receive assistance for completing the registration process before accessing financial aid.
Darekar clarified that while funds are provided for redevelopment, the land and saleable Floor Space Index (FSI) remain mortgaged as security until the project is completed. Claiming a “100 per cent success rate”, he said none of the sanctioned self-redevelopment projects have failed so far.
“This initiative is meant for the middle class. Wealthier people may choose builder-led redevelopment, but the government is standing with ordinary citizens by providing financial support for self-redevelopment,” he said.
Darekar explained that societies must first conduct a feasibility study before proceeding. Government teams have conducted around 2,000 awareness meetings to educate residents about the process.
He said societies can appoint architects of their choice, while project plans undergo review by government-approved panels. Emphasising quality control, Darekar said, “When people build their own homes, there is no compromise on quality. Compromises generally arise when a builder is constructing homes for someone else.”
He added that the government is also promoting cluster self-redevelopment, allowing multiple societies to jointly undertake projects with shared amenities. The state has set a three-year completion timeline for such projects, with penalties applicable for delays.
Darekar said all 21 completed projects under the scheme were delivered within 2.5 to 3 years. He added that self-redevelopment can provide residents with nearly double the additional carpet area compared to builder-led redevelopment in several cases, making it an attractive option for housing societies.
Source: The Free Press Journal
