Latest news with #Redevelopment)Act
Time of India
23-07-2025
- Business
- Time of India
Amid crackdown, SRA collects 1,386cr rent from bldrs in 3 yrs; 646cr still due
Mumbai: In a major crackdown on builders defaulting on payment of rent to slumdwellers, Slum Rehabilitation Authority (SRA) has collected dues of Rs 1,386 crore in nearly three years—Rs 601 crore under regular schemes, Rs 134 crore under its amnesty scheme and Rs 650 crore under a new circular that requires builders to deposit advance rent for two years with the agency. As per data released by SRA, of the Rs 880-crore rent dues from regular projects, Rs 279 crore is yet to be collected, and the total dues from 23 projects under the amnesty scheme has dropped from Rs 501 crore to Rs 367 crore. The data was released on the heels of the state legislature passing an amendment to Maharashtra Slum Areas (Improvement, Clearance and Redevelopment) Act, 1971, that would allow SRA to attach a company's property or that of its directors/partners if it doesn't have sufficient assets, sell it and pay the money as rent to slumdwellers. You Can Also Check: Mumbai AQI | Weather in Mumbai | Bank Holidays in Mumbai | Public Holidays in Mumbai SRA CEO Mahindra Kalyankar said that the amendment would help fact-track SRA schemes and make sure that slumdwellers get their rent on time. "We have given a big push to collect all pending rents from builders so that slumdwellers don't suffer. While SRA is fast-tracking slum redevelopment, we are focusing on slum tenants and making sure that they get their dues and projects are completed on time. We have made several policy interventions for this and recent amendments made are a step in this direction," he said. by Taboola by Taboola Sponsored Links Sponsored Links Promoted Links Promoted Links You May Like Villa Prices in Dubai Might Be Lower Than You Think! Villa for sale in Dubai | Search Ads Learn More Undo Officials said once the amended Act is enforced, govt will have the option of pursuing various legal processes to recover land revenue arrears, including serving notices, attaching properties and even imprisonment of defaulters. "Under Maharashtra Land Revenue Code, govt can attach and sell a defaulter's movable and immovable property to recover dues. In some cases, the bank accounts or lockers of a defaulter may be attached. Right now, SRA can only issue stop-work notices to the builder for not paying rent or stop giving new permissions. There is no deterrent of any kind beyond that and because of this, builders don't pay rent," an official said.
Time of India
09-07-2025
- Business
- Time of India
Maharashtra legislative assembly clears amendment to slum improvement and redevelopment Act
Mumbai: The legislative assembly on Wednesday passed the amendment bill to the Maharashtra Slum Areas (Improvement, Clearance and Redevelopment) Act, 1971, allowing the Slum Rehabilitation Authority (SRA) to recover pending transit rent dues from developers by attaching not only the company's property, but also personal properties of the directors/partners, if required. Since the outstanding rent will be considered as arrears of land revenue, the SRA will be able to attach and sell the builder's property to provide rent to slumdwellers. The bill was introduced by Shiv Sena minister Shambhuraje Desai. The bill also reduces the window for dissenting slumdwellers to join SRA schemes from 120 days to 60, after more than 50% of the slumdwellers have consented to the redevelopment plan. After the 60-day period, those who do not join the SRA scheme risk losing their claim to on-site rehabilitation units and may be considered for relocation elsewhere, as per availability. You Can Also Check: Mumbai AQI | Weather in Mumbai | Bank Holidays in Mumbai | Public Holidays in Mumbai Officials said that state govt has various legal processes to recover these arrears, including serving notices, attaching property, and even imprisonment of the defaulter. "Under the Maharashtra Land Revenue Code, govt can attach and sell the defaulter's movable and immovable property to recover the dues. In some cases, bank accounts or lockers of the defaulter may be attached. Right now, the SRA can only issue stop-work notices to the builder for not paying rent or stop giving new permissions, but beyond that, there is no deterrent of any kind, and because of this, builders do not pay rent," an official said.
