The redevelopment strategy proposed by the Maharashtra Government has the potential to revolutionize the game

 

In a strategic initiative aimed at accelerating the revitalization of aging cooperative society buildings, the Maharashtra state cabinet, in a recent meeting, approved a pivotal amendment to an enduring law. This modification now grants the authority to remove homeowners, even in the minority, who impede redevelopment plans endorsed by the majority.Enhancing the Efficiency of Redevelopment Processes

According to a senior official from the Chief Minister's Office, the recent amendment to the Maharashtra Apartment Ownership Act of 1970 is expected to notably streamline the redevelopment protocols for buildings falling under the Act. Building upon a prior amendment on July 7, 2018, which mandated a minimum consent of 51 percent from apartment owners for redevelopment, the Act faced ambiguity regarding the management of dissenting members impeding progress by resisting relocation. The latest decision by the cabinet effectively bridges this gap, providing a clearer framework for handling such situations.