Self-redevelopment is a way, where the committee of slum dwellers or residents come together and appoint a contractor to help them redevelop the building or the slum
To encourage self-redevelopment of slums by the slum dwellers, the incentive floor space index (FSI) will be hiked to 20 percent from the current 10 percent and the same benefit be given to self-redevelopment of cessed dilapidated buildings. This is the suggestion of the committee of eight MLAs formed to look into the housing issues of the city.
Currently, most of the slums or cessed buildings are redeveloped by developers, and many of them are stuck for years. Self-redevelopment is a way, where the committee of slum dwellers or residents come together and appoint a contractor to help them redevelop the building or the slum. Under self-redevelopment of slums an incentive FSI of 10 percent is given and if the suggestion by the committee of MLAs is accepted then it will increase the incentive FSI to 20 percent.
There are nearly 14,000 building in the city, which are cessed and need redevelopment. They are old and many residents do not vacate the premises only because they fear that the developer won't complete the project on time and they will languish in transit accommodation for years together.
For self-redevelopment, one of the biggest hurdles is finance, if the committees carrying out self-redevelopment are given extra FSI, it will help them construct more saleable component, which can be sold by the committee and cost of construction can be compensated.
However, for initial expenditure the society will have to come together and pool in money. There are hardly any successful examples of self redevelopment of slums or redevelopment of building in the city. There was one self-redevelopment of the slum that was being carried out near Arthur road jail, but that also got mired in controversy and its fate is unknown.
Experts believe that, proxy developers will come in force to take the benefit of such schemes and the project will finally go to them.
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