The period can be extended to three years in exceptional circumstances, said a Maharashtra govt order issued on Wednesday which replaces the 2019 redevelopment framework. Mumbai: Maharashtra’s revised redevelopment framework has made it mandatory for developers to complete a project within two years once the plinth/foundation is approved by the authorities.
If fewer are received, society must first extend the process by at least 15 days and another one-week extension. If a lottery is necessary, it must be conducted after completion and video-recorded, with the minutes, recording and certified allotment list submitted to registrar within a month You Can Also Check: Gold Rate in Mumbai | Silver Rate in Mumbai | Bank Holidays in Mumbai | Public Holidays in Mumbai | Mumbai AQI | Weather in Mumbai | Petrol Price in Mumbai | Diesel Price in Mumbai | CNG Price in Mumbai | LPG Price in Mumbai Stay updated with the latest Mumbai news. The order also shifts the focus from merely approving projects to tracking what members get at every stage. Societies must obtain a PMC (project management consultant) report comparing different permissible development options within two months. At least three developer bids are required, with mandatory extensions if fewer are received. Members can inspect key redevelopment records free of cost. Developers must sign agreements within three months of selection, while projects are to be completed within two years, barring exceptional extensions. Registered permanent alternative accommodation agreements are mandatory before shifting, states the order. Commercial occupants get added protection, while deadlines have also been fixed for new membership and post-redevelopment flat allotment. Head: What the new rules for redevpt framed by govt state *Society has to appoint a project management consultant (PMC) who will have to examine the land title, development potential, FSI/TDR, parking, open spaces and residential/commercial requirements *PMC must prepare separate project reports and a comparative statement for different applicable development schemes, allowing members to assess potential benefits under different options. Project report has to be completed within two months *At least three bids are required for a competitive tender. Existing bidders can submit revised offers *Society has to execute redevelopment agreement in three months. Redevelopment records must be available to members for free inspection *Members are to get alternative accommodation in same area as far as possible, or mutually agreed rent/deposit or transit accommodation. Registered permanent alternative accommodation agreement needed, with individual agreements to be executed within three months of registration of redevelopment agreement. For shops and commercial premises, vacation can take place only after required legal approvals and registration of permanent alternative accommodation agreement; occupants’ rights are to remain intact *Society must decide new flat/shop purchasers’ membership and share-certificate applications within three months of possession. New flat allotment should follow existing floor position as far as possible. Download the TOI App.
Agreement must specify the completion period, bank guarantee, alternative accommodation, Rera carpet area and dispute-resolution mechanism *A managing committee member, office-bearer or their relative barred from becoming developer *Approved building plans are to be placed before the general body *Stipulated completion period is two years from the specified foundation/plinth certificate stage, with up to three years allowed only in exceptional circumstances.