A Golden Opportunity with Government Backing

Streamlined Approvals:
The Maharashtra government has appointed district zonal officers to accelerate the processing of self redevelopment proposals. Now, applications receive the green light within three months, expediting construction.

Financial Support:
Central district cooperative banks have been designated as the nodal agencies for financing these projects. In Mumbai, the Mumbai Central District Cooperative Bank offers essential financial services.

Reduced Costs:
Stamp duty and registration fees have seen significant reductions. Stamp duty for society members is a mere Rs.100, and registration fees are a nominal Rs.1,000.

Quick Conveyance:
Housing societies passing a self redevelopment resolution receive ownership rights within just one month, compared to the previous six-month wait.

Minimal Document Hassles:
Document submission requirements have been simplified, recognizing that many societies may lack certain documents during application.

Widespread Impact:
The benefits extend beyond Mumbai city, encompassing areas like Thane, Kalyan-Dombivali, Navi Mumbai, Raigad, Ulhasnagar, Bhiwandi, and other municipal corporations, where around 10,000 societies with 30-year-old buildings are eager for redevelopment.

Freedom from Builder Control:
Numerous housing societies still find themselves under builders' control years after selling all flats. Self redevelopment empowers these societies to regain control of their land and make independent decisions.