The pivotal decision was made during a meeting presided over by Atul Save, the State Housing Minister, held at Mantralaya today. Taking the lead, Mangal Prabhat Lodha, Minister for skill development , innovation and entrepreneurship, stressed the need for the redevelopment of the 68 old and dilapidated cessed buildings owned by LIC situated in South Mumbai. He highlighted the critical state of these structures due to their age and dilapidation, emphasizing the urgency of their redevelopment to avert potential risks to life and property.

In a milestone moment, the decision to proceed with the redevelopment was given by Save. He directed MHADA officers to initiate the redevelopment of the 68 old and dilapidated LIC buildings through the novel provision 79 (A) of the Maharashtra Housing and Area Development Act. In line with this legislative provision, MHADA (Maharashtra Housing and Area Development Authority) will issue notices for redevelopment proposals of these buildings to LIC. Within a stipulated time frame of 6 months, LIC will be required to submit their redevelopment proposal. Failing to do so within the designated period, the occupants of these buildings will be given the opportunity to submit the redevelopment proposal within a period of 6 months. Should these efforts falter, MHADA will undertake the redevelopment by acquiring the land, as sanctioned by the new amendment in the MHAD Act. Save further clarified that until the redevelopment is executed, no coercive action will be taken against the residents/tenants by LIC.

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