{"id":1207,"date":"2020-10-02T18:47:05","date_gmt":"2020-10-02T18:47:05","guid":{"rendered":"https:\/\/www.propertypistol.com\/blog\/?p=1207"},"modified":"2020-10-03T05:52:47","modified_gmt":"2020-10-03T05:52:47","slug":"things-you-need-to-know-about-maharashtra-self-redevelopment-scheme","status":"publish","type":"post","link":"https:\/\/www.propertypistol.com\/blog\/things-you-need-to-know-about-maharashtra-self-redevelopment-scheme\/","title":{"rendered":"Things you need to know about Maharashtra self-redevelopment scheme"},"content":{"rendered":"\n<p><em>Maharashtra, on September 13, 2019, issued a Government Resolution (GR), which provides several concessions for <\/em><strong><em>self-redevelopment<\/em><\/strong><em> of housing societies.<\/em><\/p>\n\n\n\n<!--more-->\n\n\n\n<figure class=\"wp-block-image\"><img decoding=\"async\" width=\"1024\" height=\"512\" src=\"https:\/\/www.propertypistol.com\/blog\/wp-content\/uploads\/2020\/10\/Realty-Vocab-New-Design-Twitter-Self-Redevelopment-1024x512.png\" alt=\"\" class=\"wp-image-1208\" srcset=\"https:\/\/www.propertypistol.com\/blog\/wp-content\/uploads\/2020\/10\/Realty-Vocab-New-Design-Twitter-Self-Redevelopment-1024x512.png 1024w, https:\/\/www.propertypistol.com\/blog\/wp-content\/uploads\/2020\/10\/Realty-Vocab-New-Design-Twitter-Self-Redevelopment-300x150.png 300w, https:\/\/www.propertypistol.com\/blog\/wp-content\/uploads\/2020\/10\/Realty-Vocab-New-Design-Twitter-Self-Redevelopment-768x384.png 768w, https:\/\/www.propertypistol.com\/blog\/wp-content\/uploads\/2020\/10\/Realty-Vocab-New-Design-Twitter-Self-Redevelopment-1568x784.png 1568w, https:\/\/www.propertypistol.com\/blog\/wp-content\/uploads\/2020\/10\/Realty-Vocab-New-Design-Twitter-Self-Redevelopment.png 1600w\" sizes=\"(max-width: 1024px) 100vw, 1024px\" \/><\/figure>\n\n\n\n<p>You all are aware that in cities like <a href=\"https:\/\/propertypistol.com\/\">Mumbai<\/a>, land if very scarce, then too the demand for housing is growing continuously. Moreover, some of the <a href=\"https:\/\/propertypistol.com\/builder-service\">buildings in Mumbai<\/a> and in other cities have outlived their useful life and pose a risk to the lives of the residents. To overcome these problems, the Maharashtra government is increasing demand for housing, with the added objective of replacing the old buildings by promoting and regulating the redevelopment of existing properties.<\/p>\n\n\n\n<p>The <strong>redevelopment of old buildings<\/strong> has considerably changed the face of Mumbai, in the last 25 years. <\/p>\n\n\n\n<div id=\"ez-toc-container\" class=\"ez-toc-v2_0_69 counter-hierarchy ez-toc-counter ez-toc-grey ez-toc-container-direction\">\n<div class=\"ez-toc-title-container\">\n<p class=\"ez-toc-title \" >Table of Contents<\/p>\n<span class=\"ez-toc-title-toggle\"><a href=\"#\" class=\"ez-toc-pull-right ez-toc-btn ez-toc-btn-xs ez-toc-btn-default ez-toc-toggle\" aria-label=\"Toggle Table of Content\"><span class=\"ez-toc-js-icon-con\"><span class=\"\"><span class=\"eztoc-hide\" style=\"display:none;\">Toggle<\/span><span class=\"ez-toc-icon-toggle-span\"><svg style=\"fill: #999;color:#999\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" class=\"list-377408\" width=\"20px\" height=\"20px\" viewBox=\"0 0 24 24\" fill=\"none\"><path d=\"M6 6H4v2h2V6zm14 0H8v2h12V6zM4 11h2v2H4v-2zm16 0H8v2h12v-2zM4 16h2v2H4v-2zm16 0H8v2h12v-2z\" fill=\"currentColor\"><\/path><\/svg><svg style=\"fill: #999;color:#999\" class=\"arrow-unsorted-368013\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" width=\"10px\" height=\"10px\" viewBox=\"0 0 24 24\" version=\"1.2\" baseProfile=\"tiny\"><path d=\"M18.2 9.3l-6.2-6.3-6.2 6.3c-.2.2-.3.4-.3.7s.1.5.3.7c.2.2.4.3.7.3h11c.3 0 .5-.1.7-.3.2-.2.3-.5.3-.7s-.1-.5-.3-.7zM5.8 14.7l6.2 6.3 6.2-6.3c.2-.2.3-.5.3-.7s-.1-.5-.3-.7c-.2-.2-.4-.3-.7-.3h-11c-.3 0-.5.1-.7.3-.2.2-.3.5-.3.7s.1.5.3.7z\"\/><\/svg><\/span><\/span><\/span><\/a><\/span><\/div>\n<nav><ul class='ez-toc-list ez-toc-list-level-1 ' ><li class='ez-toc-page-1 ez-toc-heading-level-5'><a class=\"ez-toc-link ez-toc-heading-1\" href=\"https:\/\/www.propertypistol.com\/blog\/things-you-need-to-know-about-maharashtra-self-redevelopment-scheme\/#Eligibility_criteria_for_self-redevelopment\" title=\"Eligibility criteria for self-redevelopment\">Eligibility criteria for self-redevelopment<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-5'><a class=\"ez-toc-link ez-toc-heading-2\" href=\"https:\/\/www.propertypistol.com\/blog\/things-you-need-to-know-about-maharashtra-self-redevelopment-scheme\/#Single-window_system_for_all_approvals\" title=\"Single-window system for all approvals\">Single-window system for all approvals<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-5'><a class=\"ez-toc-link ez-toc-heading-3\" href=\"https:\/\/www.propertypistol.com\/blog\/things-you-need-to-know-about-maharashtra-self-redevelopment-scheme\/#Empanelment_and_appointment_of_contractors\" title=\"Empanelment and appointment of contractors\">Empanelment and appointment of contractors<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-5'><a class=\"ez-toc-link ez-toc-heading-4\" href=\"https:\/\/www.propertypistol.com\/blog\/things-you-need-to-know-about-maharashtra-self-redevelopment-scheme\/#Timely_manner_approvals_and_its_execution\" title=\"Timely manner approvals and its execution\">Timely manner approvals and its execution<\/a><\/li><\/ul><\/nav><\/div>\n<h5 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"Eligibility_criteria_for_self-redevelopment\"><\/span><strong>Eligibility criteria for self-redevelopment<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h5>\n\n\n\n<p>Only registered cooperative\nhousing societies of Maharashtra are eligible to avail of the benefits offered\nunder this Government Resolution (GR). This advantage is available only for\nbuildings which have completed 30 years, doesn\u2019t matter who owns the property. If\nthe housing society owns multiple buildings of different ages, the society opts\nfor self-redevelopment only for the building with 30.<\/p>\n\n\n\n<h5 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"Single-window_system_for_all_approvals\"><\/span><strong>Single-window system for all approvals<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h5>\n\n\n\n<p>Redevelopment of any <strong>residential project<\/strong> usually can be\ntime-consuming process as needs approval from many departments and government authorities.\nSome of the approvals are interlinked. To avoid delays, arising as a result of\nthe various departments handling the applications, the GR introduced a\nsingle-window system for making applications and granting of approvals. This\nwill help reduce the time and cost for the redevelopment. <\/p>\n\n\n\n<h5 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"Empanelment_and_appointment_of_contractors\"><\/span><strong>Empanelment and appointment of contractors<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h5>\n\n\n\n<p>The housing society\nhas to appoint a contractor to perform redevelopment procedure, from panel of\ncontractors maintained by the approving authority. For empanelment, the\ncontractors have to submit balance sheets for the last three years. This\nrequirement will make sure that no contractors get to perform redevelopment under\nthis scheme. The contractor can be removed, if the committee constituted for\nmonitoring the progress of the project reports undue delay by the contractor,\nin execution of the project. In such a case, the\ncontractor can also be boycotted, to make him disqualified for any other\nproject. <\/p>\n\n\n\n<h5 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"Timely_manner_approvals_and_its_execution\"><\/span><strong>Timely manner approvals and its execution<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h5>\n\n\n\n<p>To obtain on-time approvals by officials,\nthe Government Resolution specifies that approvals for applications for <strong>self-redevelopment<\/strong> must be granted\nwithin 6 months from the date of submission of the application. Furthermore, to\nqualify for the benefits available under the GR and for the faster execution, the\nredevelopment of the building has to be completed within 3 years from the date\nof the approval. <\/p>\n\n\n\n<p>From the above, you must have got to know about self-redevelopment scheme. If the redevelopment is undertaken by the housing society, the society shall be entitled to an extra FSI of 10%, over and above what it is entitled to under the development regulations of the area. <\/p>\n\n\n\n<p style=\"font-size:12px\"><em><strong>Disclaimer:&nbsp;<\/strong>The views expressed above are for informational purposes only based on industry reports and related news stories. PropertyPistol does not guarantee the accuracy, completeness, or reliability of the information and shall not be held responsible for any action taken based on the published information<\/em>.\n\n<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Maharashtra, on September 13, 2019, issued a Government Resolution (GR), which provides several concessions for self-redevelopment of housing societies.<\/p>\n","protected":false},"author":2,"featured_media":1209,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_eb_attr":"","_lmt_disableupdate":"","_lmt_disable":"","footnotes":""},"categories":[26],"tags":[67],"class_list":["post-1207","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-real-estate","tag-realty-schemes","entry"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v23.3 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Things you need to know about Maharashtra property self-redevelopment scheme - 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