Less than a fifth ‘interested’ developers apply for MHADA empanelment

R B Mitkar, who heads the redevelopment cell at MHADA, said, “Several  companies showed interest thinking that they would be the developers of the housing projects and will get a share as sale component. However, that is not the case. The companies will be contractors while MHADA will be the developer. They won’t have a share in the project as such. This is probably the reason why many did not submit their application.”

The official said MHADA had started scrutinising the applications and would take about a month to make a final list of empaneled contractors.

Until now, residents of MHADA housing societies were selecting developers for redevelopment of their buildings independently, with a no-objection certificate from the authority, and projects would often be stalled due to lack of expertise and a liquidity crunch. However, now under the revised development control rules, the state government has incentivised residents to approach the housing authority with redevelopment proposals by offering them an additional 15 per cent carpet area. Expecting several such redevelopment projects to come its way, MHADA had decided to maintain a panel of construction contractors in three categories. The authority has 56 colonies over 104 layouts in the city.

Besides the eight applications for the premium category, MHADA has received 21 applications for projects lesser than 20,000 sqm and seven for works between 20,000 and one lakh sqm. One developer-BG Shirke Construction Technology Pvt Ltd that undertakes several of MHADA’s new development works-has applied in two categories.

For the premium category, MHADA has received applications from several developers known in the high-end or luxury housing segment.

The companies are Larsen & Toubro, Keystone Realtors, Unity Infraprojects, Kalpataru, Omkar Realtors & Developers, Nahar Builders, Kabra & Associates and BG Shirke Construction Technology Pvt Ltd.

“MHADA has several colonies that are large enough to fit into the premium redevelopment category, but as of now, there are two in the pipeline – Tagore Nagar at Vikhroli and Motilal Nagar in Goregaon,” Mitkar said. Tagore Nagar is spread over an area of 2.2 lakh sqm, while Motilal Nagar is more than 5 lakh sqm.

BG Shirke Construction has also submitted its application for projects between 20,000 and one lakh sqm. The other firms that have applied in this category include Wadhwa Estate & Developers, Goodbuild (India) Pvt Ltd, AA Estates Pvt Ltd, Satra Property, Goel Ganga Developers and Sanghavi Premises.

Some of the developers who have applied for empanelment of works below 20,000 sqm include Swastik Realty, Neev Infrastructure, Vakratunda Realty and Bharat Infrastructure & Engineering.

manasi.phadke@expressindia.com