Property expo begins, SRA looks to woo ‘reputed’ builders

Oct 19 2013, 01:05 IST
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SummaryThe authority hopes to spread awareness on the various schemes under the Development Control Regulations that builders can choose to implement slum rehabilitation projects.

Even AS developers are busy trying to attract buyers at the annual property exhibition of the Maharashtra Chamber of Housing Industry (MCHI), the Slum Rehabilitation Authority (SRA), too, has set up its own stall to target big and reputed builders.

The authority hopes to spread awareness on the various schemes under the Development Control Regulations that builders can choose to implement slum rehabilitation projects.”We want to attract reputed builders who can successfully take up and finish SRA projects. At present, small builders take up such projects and construction quality of the apartments is often poor,” said a senior SRA official.

The planning agency has received over 120 enquiries so far about the various schemes by builders, representatives of slum dwellers and brokers and is planning to hold special presentations for interested stakeholders. “We will contact builders and residents who have shown interest in the SRA schemes and expedite the projects,” said the official.

To minimise the presence of unscrupulous builders in slum redevelopment, the SRA has also begun checking credibility parameters such as bank guarantee of builders. The authority is in the process of building a mechanism to ensure more credibility of builders and plans to amend the Slum Rehabilitation Act. The authority had recently also sent out showcause notices to over 300 builders who have failed to begin housing projects for the past five years. The SRA has identified over 400 such projects.

The real estate and housing finance exhibition is a yearly event organised by the Maharashtra Chamber of Housing Industry -Confederation of Real Estate Developers’ Associations of India, and brings more than 120 developers, buyers, housing finance companies, brokers on a common platform.

mumbai.newsline@expressindia.com

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