September 30, 2025: In a landmark decision, the Maharashtra government on Monday constituted a Self-Redevelopment Authority to assist housing societies in redeveloping their ageing buildings independently, rather than relying on private builders. The move is expected to give a major fillip to self-redevelopment across Mumbai and the wider Mumbai Metropolitan Region (MMR).
BJP legislator Pravin Darekar, who also heads the Mumbai District Central Cooperative Bank, has been appointed president of the new authority and accorded ministerial status. Darekar has long advocated for self-redevelopment, with the bank actively supporting housing societies in such projects.
The decision comes four months after the state cabinet approved the New Housing Policy, which called for a dedicated cell to guide housing societies and allocated Rs 2,000 crore to support the initiative. “The authority will provide end-to-end support, including advice on planning, funding, developer selection, and project execution, enabling societies to manage redevelopment on their own,” a senior housing department official said.
Although Monday’s order announced Darekar’s appointment, it did not specify the detailed structure of the authority. Officials said a follow-up order would clarify its composition and operational framework.
According to industry body CREDAI-MCHI, more than 25,000 buildings in the MMR are eligible for redevelopment, with an estimated project value exceeding Rs 0,000 crore.
Earlier this year, Chief Minister Devendra Fadnavis waived interest on premiums for self-redevelopment projects until March 2026. He also promised subsidised loans for housing societies and urged Union Cooperation Minister Amit Shah to explore support through the National Cooperative Development Corporation.
Darekar recently headed a study group to assess challenges in the process, submitting its report to Fadnavis in July. The group recommended an additional 10% carpet area for societies, cluster redevelopment, and a reduction in the minimum project size to 2,000 square metres from 4,000.
Source: Hindustan Times
