Self Redevelopment Scheme in Maharashtra for Flat Owners / Housing Societies Launched by CM Devendra Fadanwis

Published Date - 28 February 2018 01:06:48 Updated Date - 28 February 2018 01:08:07

The state government of Maharshtra launched Self Redevelopment Scheme for the members of housing societies to redevelop their old buildings. The main objective of this scheme help flat owners to get quality work, within the stipulated time along with necessary suggestions. Under this scheme, the bank would provide the required funds and deposit amount to the flat owners.

The scheme allows redevelopment without the requirement of a builder, wherein the flat owners will have the liberty to select their architects, consultants as well as contractors. On Monday, Fadnavis along with Chairman of Mumbai Co-operative Bank, Pravin Darekar launched the scheme at a conference which was conducted at Yashvantrao Chavan auditorium at Nariman Point.

Self-Redevelopment scheme is an innovative scheme to help the flat owners for redeveloping their old buildings. This scheme is a huge step towards making sure that the residents of housing societies can redevelop their buildings without any hassle. From a survey, we can know that around 2,000 projects of redevelopment in the city are stuck in the middle phase because the builder/developer left after doing half of the work. Thus this scheme will prove itself as a useful alternative option for redevelopment to the members of the housing societies.

This housing society scheme is a major initiative of the Mumbai District Cooperative Bank. Accordingly, residents will not have to face problems of the developers and builders to carry forward their redevelopment project. Banks will provide easy loans to carry out the construction activities.

Under this scheme, MHADA (Maharashtra Housing and Area Development Authority) and BMC (Brihanmumbai Municipal Corporation) will work in coordination to give permissions and other house related approvals easily.


Details of Self-Redevelopment Scheme

Launching Date

8 Jan, 2018

Launched By

Devendra Fadnavis (CM of Maharashtra)



Funded By

Mumbai District Cooperative Bank

Supervised By

MHADA and Mumbai District Cooperative Bank

Here are the details and the highlights of Self Redevelopment Scheme.

  • The state government will provide financial assistance to the flat owners to redevelop their flats.
  • The officials of Mhada (Maharashtra Housing and Area Development Authority) will form a ‘single-window system’ in coordination with the Brihanmumbai Municipal Corporation (BMC).
  • Mhada and Mumbai District Bank will conduct workshops for the flat owners so that they know about self-redevelopment loan policy and the permissions required for Self Redevelopment Scheme.
  • Mhada in coordination with the civic body will create a panel consisting of architects, consultants and contractors for the benefit of flat owners.

The workshops will help the flat owners know the self redevelopment loan policy and the necessary permission required under this Self Redevelopment Scheme.


Leave Your Comment Here