Property redevelopment: Dark clouds aheadPosted: April 8, 2012
Eight months ago, there was hope that much of dilapidating Mumbai would get a facelift and be redeveloped. Today, the scenario is worrisome.
Thanks to the Adarsh building scam, no files for redevelopment are being cleared. The absurd (often collusive) application of discretion and permitting garage parking inside individual apartments even on higher floors, free of Floor Space Index (FSI) norms had to be cancelled once investigations into real estate scams were ordered by India’s courts.
As a result, tenants and owners who were moved out of their premises with a promise of being given back a better home after redevelopment, continue to be kept out, with no clear date for re-possession of their premises.
Many old buildings in urgent need for repairs remain precarious places of dwelling.
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