MHADA to allot huge redevelopment projects to premium developers

By Accommodation Times News Services

mhadaMaharashtra Housing and Development Authority (MHADA) announced an important decision over its redevelopment projects larger than one lakh sq m. in its pre-empanelment conference; the MHADA officials have formed a premium list of developers, which will consist realty firms having experience of more than 10 years in redevelopment constructions and with a good financial stability.

They have formed a list of criteria for being eligible in the premium list accordingly they will segregate the developers. If any of the MHADA colonies over 1 lakh sq. m. seeking for redevelopment will have to refer from this premium list for handling over the contract to the developer who bids the lowest price. This decision is an addition to MHADA’s efforts to empanel builders for redevelopment projects of its old colonies, after several of the city’s large builders showed interest in applying for empanelment.

Formally the authorities had decided to enlist builders in two categories, one for projects less than 20,000 sq m and a second for works more than 20,000 sq m.

R B Mitkar Head of MHADA redevelopment cell, said, “ currently two of our huge project are in stage of redevelopment one is in Tagore Nagar at Vikhroli and another is Motilal Nagar at Goregaon. Companies registered in the premium list will be able to bid for the two projects.”

Tagore Nagar is spread over an area of 2.2 lakh s m, while Motilal Nagar is more than 5 lakh sq m.

Till date, residents of MHADA housing colonies were selecting developers for redevelopment independently, with a no-objection certificate from the housing authority. However, now MHADA expects more redevelopment projects to come its way with the state government having revised rules.

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