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Mumbai developers to hold protest march today
Realtors says files regarding redevelopment projects have been stuck
Updated : Jun 13, 2019, 05:30 AM IST
 "Real Estate")
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Close to 127 developers from the suburbs of Mumbai and their employees will be holding a protest march at the Building Proposal Department of Brihanmumbai Municipal Corporation (BMC) in Kandivali on Thursday. Their realtors said files regarding redevelopment projects have been stuck for years.
The developers from the western suburbs, who are mostly into the redevelopment of old and dilapidated buildings, have come together and formed an association, the membership of which has grown from around 10 to 127 within a couple of weeks.
Ritesh Shah, a developer from western suburbs, confirmed the move. "This is a peace protest. We developers are tired. Redevelopment is stuck. Earlier, the development plan (DP) was in process; hence, the projects didn't move. Now, while DP is in place, the files are being rejected for some or the other reason. The projects are delayed. We have been facing severe problems as the interest costs are piling up, the rent to tenants of old buildings is not being paid, there no work going on. Even in cases where buildings are dilapidated and there's an urgent need for redevelopment, developers aren't taking up projects fearing that they will get stuck again."
STUCK IN GROUND |
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The 127 developers will be shutting their offices on Thursday and their staff will also join them in the protest march. Some tenants of the affected buildings will also participate in the protest. According to the developers, close to 2,000 people would gather to mark their presence at the protest to be held at Kandivali.
The developers have held various meetings with the officials from Urban Development Department and BMC. The builders said while the response has been positive and the authorities have sought time a few days' time, they would still go ahead with the protest.
Most of the protesting developers are from the Goregaon to Dahisar belt, and some are from beyond that, up to Bandra.
BMC commissioner Praveen Pardeshi said, "All cases are being processed except those which don't fall within prescribed Development Control Promotion and Regulation.”
On Tuesday, during a meeting of the protesting developers, members of Credai-MCHI, the apex body of real estate developers in the city, were also present. MCHI has extended its support to the protesting developers.
