The Maharashtra Cabinet, on Tuesday, cleared a cluster development policy for Mumbai.
Under the cluster development policy, dilapidated buildings, cess buildings and buildings of the state government and the Maharashtra Housing & Area Development Authority, that are more than 40 years old, will be entitled for redevelopment.
There are about 19,000 such buildings in Mumbai. 1,000-1,500 land parcels have been identified for cluster development.
According to the policy, the approval of 70 per cent of the owners will be required for redevelopment; the approval of the rest can be secured within a year. However, for dilapidated buildings and those declared risky to reside in, such approvals will not be required. In such cases, the state government will acquire the land and incorporate those buildings under the cluster development policy.