In a major policy shift to accelerate redevelopment in Mumbai, MHADA CEO and Vice President Mr. Sanjeev Jaiswal, IAS, announced that No Objection Certificates (NOCs) for redevelopment of old cessed buildings will now be issued within six weeks under the Right to Service Act. If delayed beyond this period, the NOC will be treated as deemed approved.
The announcement was made at MHADA’s 2nd Redevelopment Conference and Investors Summit held at MIG Club, Bandra (East), attended by top industry leaders including Boman Irani, Domnic Romell, Gautam Chatterjee, Niranjan Hiranandani, Prashant Sharma, and Rajan Bandelkar.
The fast-tracked approval applies to proposals submitted under Section 79A(1a) or 79A(1b) with 51% tenant consent. Mr. Jaiswal emphasized that if all stakeholders adhere to their commitments, MHADA can facilitate construction of 8 lakh affordable homes in the MMR over the next five years, supported by a projected ₹6,609 crore investment and ₹1.28 lakh crore in developer contributions.
Other key reforms include enhanced FSI norms, GST and premium payment relaxations, and use of surplus 33(9) tenements for transit housing. MHADA also aims to act as a nodal agency for rental housing, proposing 100% income tax exemption on rental income for ten years and fixed tenement pricing at 125% of DSR.
The summit concluded with a call for accountability and timely project completion, reinforcing MHADA’s commitment to housing for all.