The Maharashtra Housing and Area Development Authority (Mhada) is set to redevelop around 13,000 cessed buildings in South Mumbai, transforming the landscape and improving living conditions for thousands of residents.
MhadaCessed BuildingsSouth MumbaiRedevelopmentReal EstateReal Estate MumbaiFeb 14, 2025
MHADA, or the Maharashtra Housing and Area Development Authority, is a government agency established in 1971 to develop housing and infrastructure in the state of Maharashtra. It plays a crucial role in providing affordable housing and improving living conditions for underprivileged sections of society.
Cessed buildings are structures, often built before 1960, that have reached the end of their useful life and are in a dilapidated state. These buildings are in dire need of redevelopment to ensure safety and modern living conditions.
The redevelopment project will provide residents with modern amenities, better living conditions, and a safer environment. New buildings will be designed with energy-efficient features, green spaces, and modern infrastructure.
Real estate developers are showing keen interest in participating in this redevelopment initiative, recognizing the potential for high returns on investment in one of India's most dynamic and economically vibrant cities.
The new buildings will be designed with energy-efficient features and green spaces, contributing to the overall environmental well-being of the city. The project also aligns with the government's vision of transforming Mumbai into a smart city.
Godrej Properties Ltd has sold over 2,000 homes worth over Rs 3,150 crore in its project, Godrej Woodscapes, located in Whitefield-Budigere Cross, Bengaluru.
The recent budget announcements have brought a renewed focus on the real estate and infrastructure sector, addressing key areas such as industrial parks, housing for urban poor, and the redevelopment of cities.
MHADA has received over 75,000 applications for 2,030 homes; deadline for application submission is September 19
Hyderabad: Two real estate owners were arrested on October 31 for scamming a client out of Rs 1.45 crore by falsely selling plots.
Kalpesh Maroo brings over two decades of experience in private equity and corporate M&A. His expertise spans divestitures, mergers, and acquisitions, as well as business re-organizations for leading Indian and multinational companies.
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