Projects will have time limit for completion
Geetanjali Minhas | August 10, 2021 | Mumbai
Thousands of slum dwellers are on the streets, not even getting rent for several years as many projects are stuck under the Slum Rehabilitation Scheme. Now the Slum Rehabilitation Authority (SRA) will take over and develop more than 500 projects left in limbo by builders and developers, Maharashtra housing minister Jitendra Awhad has said.
Many banks as well as financial institutions have provided funds to the developers after the letter of intent (LOI) is received and banks and financial institutions then approach the SRA to provide aid. Around Rs 50,000 crore have been invested in slum rehabilitation schemes where developers have not done any work beyond the letter of intent. Several partially demolished slums and buildings are stuck with residents languishing out of their homes.
“The Slum Rehabilitation Authority will now take over these projects which have been stalled for many years and develop them,” Awhad said on Monday, clarifying that receipt of LOI under the SRA Scheme does not mean that the developers become the owners of the land.
The housing minister said that SRA is planning Shivshahi Rehabilitation Project to take appropriate measures for closed projects and build houses of slum dwellers in the rehabilitated building.
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