Govt incentive for revamp of societies onMhada plots

Mumbai: The government will offer a slew of incentives to the occupants of the 5,000-odd societies on Mhada land to encourage them to go for redevelopment and curb unfair practices. 

    Based on the nature of development opted for, occupants will be offered 35% to 60% additional area as incentive, a senior state official said. To curb unfair practices used by developers to lure societies, the state government has also decided to introduce a cap on maximum tenement size. The societies house about 1 lakh people. An official notification regarding the new rules will be issued in the next few days, the official said. An extra 35% area will be offered to occupants of all societies opting for redevelopment. Those opting for cluster redevelopment will be offered another 15% area as incentive, whereas those opting for Mhada as developer would get another 10% area. —Sandeep Ashar