The long-pending redevelopment of ageing LIC-owned buildings in South Mumbai may finally move forward, bringing hope to hundreds of residents living in deteriorating conditions. After years of uncertainty, Maharashtra Cabinet Minister Mangal Prabhat Lodha has secured an assurance from Union Finance Minister Nirmala Sitharaman that a “positive solution” will be worked out within the next three months.
The issue involves several decades-old properties owned by Life Insurance Corporation of India and the erstwhile Dena Bank across South Mumbai. Many of these buildings, some nearly 80 to 90 years old, are in a severely dilapidated condition, posing serious safety risks—especially with the monsoon season approaching. Residents have been grappling with crumbling structures, weak foundations, and repeated notices from Maharashtra Housing and Area Development Authority, forcing some to vacate while others continue to stay amid fears of collapse.
Lodha, who has been pursuing the matter for over four years, recently escalated the issue by meeting Sitharaman in New Delhi along with representatives of the LIC Tenants and Occupants Welfare Association. A key concern raised was the delay in appointing a Project Management Consultant (PMC), which is essential to initiate redevelopment.
Residents claim that LIC officials indicated the PMC appointment process alone could take up to two more years—an unacceptable timeline given the current risks. Lodha emphasised that such delays, coupled with the approaching monsoon, are heightening anxiety among occupants.
The tenants’ body has demanded immediate appointment of the PMC, provision of temporary housing as per MHADA norms, and a transparent redevelopment process with tenant participation. Additional demands include rent relief for vacated units and assurance against extra financial burden.
The situation highlights broader challenges in redeveloping old institutional housing in Mumbai. If the Centre’s three-month assurance leads to concrete action, it could mark a crucial breakthrough for residents and set a precedent for addressing the city’s ageing housing crisis.
Source: News18
