Maharashtra CM Takes Steps to Address Stalled Redevelopment Projects in Mumbai

Maharashtra Chief Minister Eknath Shinde has announced a comprehensive review of stalled redevelopment projects in Mumbai, with the aim of defining a new policy to help affected residents. During a meeting with a delegation of residents from Dadar area, Shinde emphasized the need for a policy that will provide a quick and lasting solution for the affected residents

The move has been applauded by Sandeep Runwal, President of NAREDCO Maharashtra, who believes that stalled redevelopment projects have become a bane for many residents of Mumbai, depriving them of basic shelter. He welcomes the initiative taken by the Chief Minister and hopes to work together to find a solution.

Vivek Mohanani, Managing Director & CEO of Ekta World Limited, has also welcomed the move, stating that the aftermath of the pandemic and the liquidity crunch faced by the housing industry has led to many redevelopment projects getting stalled. He believes that the government’s efforts to alleviate the suffering of affected residents are commendable.

The Chief Minister has also emphasized the need to pay attention to original homebuyers in Mumbai who have had to move out of the city due to stalled redevelopment projects. He has assured that the government is exploring other mechanisms to complete these projects and find an immediate solution for affected residents.

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